Saudi Rich List
Wed 26 Aug 2009 07:24 AM
Bahaa Hariri

Bahaa Hariri

Industry: Real Estate

Company: Horizon Development

Country: Saudi Arabia

Wealth: 2.3 Billion

The 42-year-old is the eldest son of the late Rafik Hariri and the third Hariri to make it into our list. In March last year, Bahaa left family-owned Saudi Oger, a construction, utility and telecommunications company, to launch his own property business, which he runs from his base in Geneva.

Hariri’s company, Horizon Development, is in a partnership with Jordan’s government-owned real estate developer to build a $5bn mini-city in the port of Aqaba on the Red Sea.

In Lebanon, meanwhile, Horizon is building residential towers, commercial shopping centres and a hotel valued at close to $500m. The Boston University graduate is also involved in a multibillion-dollar economic city development in the northwestern Saudi Arabian city of Tabuk, and chairs two soccer clubs in Lebanon.