Prince Alwaleed Bin Talal, chairman of Kingdom Holding Company (KHC), said Saturday he has discussed future potential business collaboration with Qatar Holding, the prime vehicle for strategic and direct investments by the Gulf state. Alwaleed held a meeting in Riyadh with Ahmad Al Sayed, the chief executive of the investment arm of the Qatar Investment Authority (QIA), Doha's sovereign wealth fund, the Saudi firm said in a statement. The meeting was also attended by senior management from Kingdom Holding and media and hospitality Holding Rotana Group. The discussions focused on Alwaleed's “solid regional presence in various sectors, including real estate, hotels and media, locally, regionally and internationally,” the Kingdom Holding statement said. “The meeting touched upon local, regional and international economic and investment issues, and future projects,” it added. Alwaleed, who owns 95 percent of Kingdom Holding, has focused his investments on banks, hotels and media firms, building sizable stakes in companies like Citigroup, News Corp, Apple, and Time Warner. In April 2010, Kingdom Holding announced a $847 million transaction with Qatari Diar, QIA's real estate arm, involving the Kingdom Holding stake in Fairmont Raffles Holdings International. Under the agreements, private investment group Voyager as a strategic partner acquired for a combination of cash and other consideration a 40 percent share holding in Fairmont Raffles. In addition, Qatari Diar has undertaken to provide Fairmont Raffles with a number of future management contracts for hotels that will be branded ither Fairmont, Raffles or Swissotel. Alwaleed's Qatari investments in hotels through Kingdom Holding include the management of the Four Seasons Doha, Movenpick Doha and Movenpick Doha Tower and Suites. QIA is looking to acquire a stake in the Savoy Hotel in London.
