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Tue 21 Jan 2020 02:09 PM

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Saudi investors said to eye deal for London's famous Ritz hotel

Owners Sir David and Sir Frederick Barclay are reportedly reviewing interest from Jeddah-based Sidra Capital

Saudi investors said to eye deal for London's famous Ritz hotel

Saudi families are reportedly interested in buying the Ritz Hotel in London from the billionaire Barclay brothers.

The Financial Times reported on Tuesday that the brother are in talks to sell the hotel to a private investment group that represents wealthy Saudi Arabian families.

It cited people close to the discussions as saying Sir David and Sir Frederick Barclay are reviewing interest from Jeddah-based Sidra Capital.

The FT added that the Barclay brothers and Sidra declined to comment.

One source told the newspaper that the brothers wanted offers for The Ritz to surpass £750 million.

The hotel in Piccadilly, built in 1906, has been popular with the rich and famous.

The Barclay brothers acquired the luxury hotel, on the edge of the St James and Mayfair districts of London, for about £75 million in 1995 and have invested tens of millions of pounds to restore it, the FT said.

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