"Prince Alwalled Shun By PL On Opening of $137 Million Housing Project"
HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC), inaugurated on Monday May 27th, 2013 The Raffles Seychelles Resort and Residences on the northeast tip of Praslin Island, the second largest island in the Seychelles.
The Raffles Seychelles Resort and Residences is a 90- luxury villa resort hotel and 17 private residential villas. The cost of the Raffles Seychelles Resort and Residences is $137m and managed by Fairmont in which KHC owns a 38% stake.
Also during the visit, Prince Alwaleed was awarded The Republic of the Seychelles Plaque the highest honor granted by the country in recognition of HRH's invaluable contribution to the socio-economic development of the country for the people of Seychelles.
Moreover, Kingdom Holding's other investments in the Seychelles is through the management of Four Seasons Resort Seychelles. The Resort has 62 tree house villas, five suites and 28 Private Residences. The Four Seasons in which Kingdom Holding holds a 47.5% stake and is co-owned by Bill Gates' Cascade in which the company holds a 47.5% stake, and 5% of the Four Seasons is owned by Isadore Sharp.
SOURCE: AME INFORMATION.COM.