Prince Alwaleed Receives Moroccan Ambassador
HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) received at his office in Riyadh, H.E Mr. Abdeslam Baraka, Ambassador of the Kingdom of Morocco to Saudi Arabia who was accompanied by Mr. Ibrahim Ajoli, Chargé D'Affaires. The meeting was attended by Dr. Nahla Nasser Alanbar, Private Executive Assistant to HRH the Chairman and Mr. Fahad Bin Saad Bin Nafel, Executive Assistant to HRH the Chairman.
The meeting began as the Moroccan Ambassador thanked Prince Alwaleed for giving him the opportunity to meet with him, as it is the first meeting for His Excellency with Prince Alwaleed since he took up post as Moroccan Ambassador to Saudi Arabia. During the meeting, HRH and the Ambassador discussed a number of social, economic and investment issues.
In 2012, Prince Alwaleed received at his office in Riyadh, H.E Mr. Ibrahim ElFassi ElFehri, President of the Moroccan Institute Amadeus and the accompanying delegation.
In 2011, Prince Alwaleed visited the Kingdom of Morocco, during the visit HRH met His Majesty Mohammed VI at the Presidential Palace and a private meeting was held. HRH was accompanied by Dr. Nahlah Nasser Alanbar. His Majesty Mohammed VI bestowed upon HRH the “Grand Cross of the Order of Ouissam Alaouite”, it is the highest honor granted in the Kingdom of Morocco, the award was in recognitions of his global efforts on the economic and humanitarian fronts.
In the same year, Prince Alwaleed and HRH Prince Moulay Rachid inaugurated the Four Seasons Hotel, Marrakesh during Prince Alwaleed’s visit to the Kingdom of Morocco. During His Highness’s visit he met with HE Mr. Yasser Znagui, Minister of Tourism. Moreover, after the inauguration ceremony Prince Alwaleed and Moulay Rachid toured the Presidential suites, Royal villas and the Ballroom. The hotel construction cost was $164 million and all 40 villas adjacent to the FS hotel have been sold earlier this year.
The Prince’s investments in Morocco through KHC in addition to the Four Seasons Hotel, Marrakesh include other hotel investments under construction in Morocco that will be management by companies in which KHC holds an interest like Fairmont and Mövenpick, and in the banking sector via Citigroup.
KHI, headquartered in Dubai (UAE), a wholly owned subsidiary of Kingdom Holding Company is the leading international hotel and resort investment company focused on high growth emerging markets such as the Middle East, Asia, and Africa. The company has ownership interests in 18 properties in 13 countries.
The Four Seasons Hotel, Marrakesh is under the management of Four Seasons 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. Also, KHC owns a 33.3% stake in Mövenpick Hotels and Resorts. KHC holds a 35% stake in Fairmont Raffles Holdings International (FRHI).
Also in 2011, Prince Alwaleed received at his office in Riyadh, Mr. Fathallah Sijilmassi, Director General of Moroccan Investment Development Agency (MIDA). In 2010, HRH received at his office in Riyadh HE Ahmed Reda Chami, Moroccan Minister of Trade and New Technologies and an accompanying business delegation.
In 2008, H.E. Dr. Mohamed Al-Bishr Saudi Ambassador to Morocco received the Medal Awarded to HRH at the 1st Meeting of Arab Gulf Investors in Morocco (Gulfinvest) on HRH’s behalf in Rabat. The medal was an acknowledgement of Prince Alwaleed’s achievements as a global investor. The 1st Meeting of Arab Gulf Investors in Morocco conference was organized by Arab Gulf Agency for Media and Communication. In the same year, Prince Alwaleed visited Morocco and was warmly received by His Majesty King Mohamed VI at the Royal Palace.