Saudi visa update, UAE petrol prices, Dubai real estate strategy, GCC airport upgrades and more of the top news stories this week
Kingdom Holding
Latest in Kingdom Holding
Jeddah
Saudi construction firm resumes work on 1,000m skyscraper, world’s tallest tower to complete in 2028
Kingdom Holding announces resumption of work on world’s tallest skyscraper the Jeddah Economic Company Tower
Kingdom Holding
Red Sea Global secures $522m finance deal with Riyad Bank to support Four Seasons resort
Red Sea Global completes major finance deal to help develop Four Seasons Resort at Shura Island
Four Seasons
Saudi Arabia’s Red Sea Global and Kingdom Holdings announce $533m Four Seasons Resort
Red Sea Global and Kingdom Holding Company announce luxury Four Seasons resort on Shura Island
Jeddah
Saudi Arabia megaproject: World’s largest tower in Jeddah resumes construction
The Jeddah Tower in Saudi Arabia is set to become the world’s tallest, surpassing 1,000 meters in height
Investment firm
Revealed: The leaders behind Kingdom Holding, Prince Alwaleed’s multi-billion dollar Saudi company
Everything you need to know about the leaders of the investment giant facilitating Saudi Arabia’s Vision 2030
Elon Musk
Prince Alwaleed releases “great Saudi Arabia” pictures, first images of billionaire in over a year
Kingdom Holding chairman photographed in desert
Kingdom Holding
Saudi Arabia’s PIF buys 16.9 percent stake worth $1.5 billion in Prince Alwaleed Bin Talal’s firm
Prince Alwaleed will retain a 78.13 percent holding in KHC, with the remaining 5 percent of the stock listed on the Saudi bourse
Elon Musk
Elon Musk’s Twitter takeover rejected by Saudi Prince Alwaleed bin Talal
The Saudi Prince is a significant shareholder in the social media platform
Kingdom Holding
Saudi billionaire’s investment firm posts $390m losses in 2020
Kingdom Holding Company says reasons for losses include decreased operating revenues and a drop in gains from investments
Alwaleed Philanthropies
Role model: Princess Lamia bint Majid AlSaud
Alwaleed Philanthropies’ Secretary General, Princess Lamia bint Majid AlSaud, says now is the time for Saudi Arabia’s women to grab opportunities, adding that old traditions can no longer be used as excuses to remain “lazy” or dependent
AccorHotels
Prince Alwaleed’s Kingdom said to hire Deutsche Bank’s Saudi CEO
Sources say Tamim Jabr will join Kingdom Holding later this year as head of international investments
California
Kingdom Holding approves $225m investment in US ride-hailing firm Lyft
Chairman Prince Alwaleed bin Talal agrees to buy more than 4.7 million shares in US company
Airbus A320neo
Flynas eyes upgrade to its Airbus A320neo order
Flynas also planning a possible Africa, Balkan hub
Kingdom Holding
Alwaleed’s Kingdom said to swerve deal for Saudi Aramco bonds
Kingdom Holding CEO Talal Ibrahim al-Maiman says yield on Aramco bonds was ‘a bit lower’ than what the company would expect
fund raising
Prince Alwaleed’s Kingdom Holding to decide on $1bn property spin-off
IPOs and real estate investment trusts are among options for the portfolio of domestic real-estate assets
Careem
Kingdom Holding to invest Careem proceeds in Saudi, Europe
Saudi investment firm owned by Prince Alwaleed made almost 100% return from sale of stake in Dubai ride-hailing firm