RIYADH: Kingdom Hotel Investments (KHI), a subsidiary of Kingdom Holding Company, has announced the opening of the $145 million Raffles Praslin Seychelles Resort and Residences. KHC, the investment firm chaired by Prince Alwaleed Bin Talal, said the ultra-luxury resort is located on the northeast corner of Praslin, the second largest island in the Seychelles. KHI maintains a 91 percent equity ownership in the resort, which is just a 15-minute plane ride from the Seychelles International Airport on the main island of Mahe. Prince Alwaleed said “the opening is in line with our investment strategy to develop hotel assets from value realized from sales.” Overlooking the Indian Ocean, Raffles Praslin Seychelles neighbors the Vallee de Mai, one of the many Seychelles treasures and a Unesco World Heritage site. Enjoying 500 meters of beachfront, the 30-hectare Raffles Praslin Seychelles features 86 villas. The resort will also feature Raffles Estates, incorporating 3, 4 and 5 bedroom residential homes developed for private ownership. The Estates are now available for sale starting from $3.5 million, said a KHC statement. The hotel's services and amenities will accompany the freehold ownership together with complimentary membership to the global Raffles Ambassadors program. With this latest addition to their portfolio of high-end hotels across Europe, North Africa, the Middle East and Asia, KHI now has three Raffles hotels operating with another set to open in Manila. Sarmad Zok, chairman and chief executive officer of KHI: “We are delighted to open the very first ultra-luxury resort on the island of Praslin.”
