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HRH Prince Alwaleed bin Talal bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company received President Gloria Macapagal-Arroyo of the Republic of the Philippines at his office in Kingdom Tower, Riyadh on Tuesday 2^nd February 2009 and hosted a luncheon in honor of the President at Kingdom Tower.

The President was accompanied by a large distinguished delegation. During the meeting the two discussed social and economic issues, and the bi-lateral relationship between their respective countries. Also on the agenda of discussions between the Filipino President and the Prince were his investments in the Philippines especially in the hospitality sector. Prince Alwaleed commented: "Our significant investments in the Philippines are Fairmont Manila and Raffles Manila."

The deal to develop these hotels was signed in 2007 by Prince Alwaleed in his capacity as Chairman of Kingdom Hotel Investments (KHI), with Ayala Land, Inc. in Manila during HRH's visit there.

Moreover, the Filipino President was received by Ms. Nada Alateegi, recently appointed General Manager of Kingdom Centre and was taken on a tour of the Centre. The tour included Kingdom Mall, Ladies' Kingdom, the Sky Bridge and the Four Seasons Hotel Riyadh, and the hotel's banqueting halls.

Prince Alwaleed had met the Filipino President on a number of occasions. In 2007 he visited the Philippines pursuant to an invitation by Mrs. Macapagal-Arroyo and was awarded the Highest National Honorary Medal, The Order of The Golden Heart With the Rank of Grand Officer. HRH had also met with the President during her visit to the Kingdom of Saudi Arabia in 2006.

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