President Abdel Fattah Al-Sisi & Prince Alwaleed Meet in Egypt

November 25th 2015

HE Abdel Fattah El-Sisi, President of Egypt and HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) and Chairman of Alwaleed Philanthropies, met during HRH’s visit to Cairo, Egypt on Wednesday 25th November 2015. The meeting was also attended by HE Mr. Ahmad Kattan, Ambassador of Saudi Arabia to Egypt, Mr. Mohammed Fahmi, KHC’s CFO, HE Ashraf Salman. Minister of Investment of Egypt and Ambassador Alaa Youssef Egypt's Presidential Spokesman.

President El-Sisi and Prince Alwaleed highlighted the warm friendship between their two countries and discussed a number of political, economic and social issues.

Kingdom Holding Company’s major investments in Egypt are in various sectors that include the hotel sector through Kingdom Hotels International (KHI), a wholly owned subsidiary that manages and owns direct stakes in Mövenpick Resort El Quseir, and Mövenpick Resort & Spa El Gouna and also manages 4 Four Seasons hotels in Cairo, Alexandria and Sharm El-Sheikh, in addition, to Fairmont, Raffles and Mövenpick Hotels & Cruisers across Egypt, totaling 23 hotels. Also in the banking sector KHC has presence in Egypt via Citigroup.

Furthermore, HRH’s privately owned investment in the media sector in Egypt includes the channels of Rotana that broadcast from Egypt. Rotana Group is a diversified media company in the Middle East. It is the world's largest producer of Arabic music and a key distributor and producer of Arabic movies with a library comprising more than 1,600 movies. Rotana also owns a bouquet of leading free-to-air TV channels including Cinema, Khalijiyah, LBC, Masryiah, Clip and Musica broadcasting the latest Arabic movies, series and music videos globally. Furthermore, Rotana has radio stations, it also operates a leading regional advertising sales arm (Rotana Media Services), responsible for advertising sales on its TV channels as well other media businesses in the region. Rotana's content is also digitally distributed globally. In addition to the Rotana channels, there is Al Resalah Channel that is wholly owned by Prince Alwaleed which also broadcasts from Egypt and through Nile Sat. Prince Alwaleed, the principal shareholder of the Rotana Group, is also the beneficial owner through KHC of approximately 7 percent of 21st Century Fox and owns a stake in Newscorp.