Prince Alwaleed Meets Twitter Management in New York
HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC), met with Mr. Dick Costolo, CEO of Twitter, Mr. Ali Rowghani, CFO of Twitter and Mr. Suhail Rizvi from Twitter at The Plaza Hotel in New York on Monday 6th February 2012 during His Royal Highness’s trip to the U.S. Prince Alwaleed was accompanied by a delegation that Mr. Jamal Khashoggi, General Manager of Alarab news channel that is privately owned by Prince Alwaleed and Ms. Heba Fatani, Senior Executive Manager, Corporate Communications Department, KHC.
During the meeting, Mr. Costolo thanked the Prince for giving him the opportunity to meet with him. Moreover, the two discussed the collaboration between Prince Alwaleed and Kingdom Holding’s combined investment of $300 Million in Twitter that was announced in December 2011. KHC’s investment in Twitter was the result of several months of negotiations and a comprehensive due diligence represent a strategic stake in Twitter.
Twitter is a communication platform that instantly connects people everywhere to what's most meaningful to them. At the heart of Twitter are small bursts of information called Tweets, which are 140 characters or less in length. With 250 million Tweets per day and more than 100 million active users, there is something for everyone on Twitter, no matter what you're interested in or where you are in the world. Twitter can be accessed on the web, on smartphones and on the simplest of feature phones.
Prince Alwaleed has a strong presence and influence in media through his investments in media and entertainment in the Arab world, and beyond like the Saudi Research and Marketing Group (SRMG), in which Kingdom Holding holds a 29.9% stake. The publications that fall under SRMG include Asharq Al Awsat, Al Eqtisadiah, Arab News, Hia magazine, Al Majalla magazine, Arrajol magazine and Sayidati magazine. Furthermore, other entities that fall under SRMG are Al Khaleejiya for Publicity Advertising and Public Relations and Al Madina Printing and Publishing Company. Furthermore, KHC is owner of approximately 7 percent of News Corporation’s Class B Common Stock.
In February 2010, Rotana Group chaired by Prince Alwaleed announced that Newscorp. has reached an agreement to buy a 9.09 percent stake in Rotana Group, to further develop its postion in the media sector in the Middle East and expand it horizon. Under the terms of the agreement, News Corporation will acquire newly-issued shares in Rotana for $70M. News Corp. has an option to increase its stake to %18.18 in the 18 months following completion.
In addition, Prince Alwaleed recently announced his plans to launch his privately owned Alarab news channel, the news channel will be managed by Mr. Jamal Khashoggi.
Prince Alwaleed Meets Citigroup’s CEO Pandit at The Plaza Hotel in New York
HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) met with Mr. Vikram Pandit, CEO of Citigroup at The Plaza Hotel in New York on Saturday 4th February 2012 during His Highness’s trip to the United States of America.
Prince Alwaleed and Citigroup’s CEO discussed the latest developments in Citigroup and future plans of the company. Furthermore, the Prince re-affirmed his support of Mr. Pandit and Citigroup’s management.
In 2010, Prince Alwaleed received at his office in Riyadh Mr. Pandit during his visit to Saudi Arabia and hosted a luncheon for his guest at Kingdom Resort. Also in the same year, Prince Alwaleed was received by Mr. Pandit at Citigroup Headquarters in New York.
Prince Alwaleed is a prominent investor in Citigroup through KHC since 1991 and is the largest single shareholder in the company. In January 2008, Prince Alwaleed participated in a $12.5 billion private offering of convertible preferred securities of Citigroup. The new direct investment was made alongside an exclusive group of leading international investors. The Prince converted the preferred shares in 2009 into common shares (voting shares).
SR43.8 Million Expansion of Kingdom Centre
Prince Alwaleed: “This expansion comes in light of KHC’s objective to fortify its local investments portfolio”
Kingdom Holding Company (KHC), chaired by HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, announced the SR43.8 million expansion of Kingdom Centre Company, Ltd. (Trade Centre), chaired by Eng. Talal Ibrahim Al Maiman, Executive Director for Development and Domestic Investments and KHC Board Member. KHC holds a 36% percent interest in Kingdom Centre.
Prince Alwaleed commented: “The expansion of Kingdom Centre comes in light of KHC’s objective to continue to fortify its investments in Saudi Arabia.”
Eng. Talal Al Maiman commented: “The total area of the expansion is 13,550 square meters and the annual return on investment is approximately 35%.” Eng. Al Maiman added that the expansion included 26 commercial stores with a total of 3,580 square meters, in addition to 10 commercial stands occupying 157 square meter and an 874 square meters children recreation area and 27 food stalls totaling 1,420 square meters and a 600 square meter Mosque. Furthermore, the expansion includes common area and service facilities making up the 13,550 square meters expansion.
The Kingdom Centre was completed in 2002. The Kingdom Centre is an iconic building and one of Saudi Arabia's most identifiable landmarks. The Kingdom Centre, which occupies 94,230 square meters of land comprises the Al Mamlaka shopping mall, considered to be one of Riyadh’s most prestigious shopping malls, and a 300 meter office tower which was, when built, the tallest building in the Middle East.
Moreover, KHC recently announced the Four Seasons Hotel Riyadh 44 rooms and suites expansion project is currently under development. The 48th floor will be converted into two floors “48th and 50th floors” with 44 premium category of guest rooms and suites, a check-in desk on the 48th floor, as well as the services of a dedicated concierge staff. The expansion also includes a panoramic elevator, a 90sqm Executive Lounge and a unique butler service. Furthermore, a 90sqm Ladies Gym will be situated on the 50th floor for all in-house female guests. Moreover, Kingdom Suite will be the "Signature Suite" of the hotel situated on both floors (duplex) covering an area of 330sqm.
Kingdom Centre was constructed to be a multi-purpose project. The eastern wing of the project includes world-famous brands that were chosen to suit particular local needs. A number of fast-food restaurants occupy the middle area of the Mall. The diversity of food taste that they cater to represents a microcosm of the world’s cuisine. The department stores occupy opposite ends of Al Mamlakah Mall, while the rest of the stores occupy locations facing the vast areas allocated to the public. They are interconnected by six pedestrian bridges. The open areas of the three commercial floors converge horizontally.
Those distinctive features have gained the Kingdom Centre Project a number of awards. The most important is the award for the Best New Skyscraper of the Year 2003. With this award, Kingdom Centre won over 350 projects voted for by thousands of architects from all over the world.
Al Mamlakah Mall also won the award for Innovative Design and Construction of a New Project 2003. This award was granted by the International Council of Shopping Centers, which grants this prize to the most distinctive project that encompasses the highest standards of accomplishment.
Crown Prince Salman Bin Hamad AlKhalifa & Prince Alwaleed Attend Inauguration of “Bahrain the Capital of Arab Culture 2012” Under the Patronage of King of Bahrain
HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) and HRH Prince Salman Bin Hamad AlKhalifa Crown Prince of the Kingdom of Bahrain attended the inauguration of “Bahrain the Capital of Arab Culture 2012” under the patronage of His Majesty King Hamad Bin Isa Al Khalifa, King of Bahrain on Thursday 2nd February 2012 at the National Museum of Bahrain. The inauguration was also attended by HE Sheikha Mai Bint Mohammed Al Khalifa, Minister of Culture in Bahrain, HE Shiekh Khaled Bin Ahmed AlKhalifa, Foreign Minister in Bahrain, government officials and dignitaries. Prince Alwaleed was accompanied by a delegation that included Mr. Fahad Alsukait, CEO- Rotana Group that is chaired by Prince Alwaleed, Mr. Jamal Khashoggi, General Manager of Alarab news channel that is privately owned Prince Alwaleed and Dr. Nahla Alanbar, Private Executive Assistant to HRH the Chairman.
Manama has been selected as the capital of Arab culture for 2012. This important cultural event is the result of years of continuous effort to preserve the cultural heritage and national knowledge, the preservation of national identity, promote cultural interaction and cultural exchange among Arab countries.
In December 2011, Prince Alwaleed congratulated HM King Hamad, the government and the people of Bahrain for the national team gold medal victory in the 12th football championship of the Arab Games which concluded in Doha, Qatar. To mark the occasion, Prince Alwaleed presented $10,000 as a gift to each team member and stressed the importance of supporting sports and athletes in the GCC countries. Moreover, Prince Alwaleed received HE Mr. Abdulmuhsin Fahad Almarik the Saudi Ambassador to the Kingdom of Bahrain who briefed HRH about this great achievement.
Prince Alwaleed visited the Kingdom of Bahrain early 2011, during the visit HRH met with HM King Hamad. The main purpose of the Prince’s visit was to affirm his confidence in the leadership of HM King Hamad and HRH Crown Prince Salman Bin Hamad Al-Khalifa, wishing Bahrain stability and prosperity. Moreover during the visit, Prince Alwaleed met with Dr. Essam Fakhro, Chairman of Bahrain’s Chamber of Commerce and Industry, and its members. In addition, a press conference was held where HRH addressed the media and the Chamber of Commerce members confirming his confidence in the leadership of the King and Crown Prince. The Prince also referred to the banks and companies that exist in Bahrain, and re-affirmed his investment presence in the country though KHC. Prince Alwaleed also expressed his readiness to further invest in the country. In turn, the head of the chamber and its members welcomed HRH’s visit and thanked him for his support of their local economy.
Prince Alwaleed also referred to his long established warm relationship with the Kingdom of Bahrain in his recent interview with US CNBC on March 11th 2011 and his confidence in the leadership of His Majesty King of Bahrain and HRH Crown Prince of Bahrain wishing Bahrain stability and prosperity.
KHC’s presence in Bahrain is through its indirect investments in the banking sector through Citigroup which has been operating in Al Manama for the past 40 years, and in the hotels sector through Mövenpick hotel in Bahrain that is managed by Mövenpick Hotels and Resorts in which KHC owns a 33.3% stake. In addition, the Four Seasons hotel in Bahrain will be opening soon, managed by Four Seasons Hotels and Resorts in which KHC holds a 47.5% stake and is co-owned by Bill Gates’ Cascade in which the company also holds a 47.5% stake, and 5% of the Four Seasons is owned by Isadore Sharp, the Company’s Chairman.