Riyadh– Saudi Arabia’s Kingdom Holding Company (KHC) sold its 90 percent interest in Malaysia’s Four Seasons Resort to Leisure Ventures Pte Ltd. (LVPL), the company announced on Sunday.

The firm sold its interest in the hotel located in Langkawi to Leisure Ventures, an affiliate of Singapore’s Hotel Properties Limited (HPL). The total value of the transaction is around $90 million.

Holding’s Chairman Prince Alwaleed bin Talal said that this transaction was another example of KHC’s value realization strategy from growth market investments.

“KHC continues to be a stakeholder in this property through our interest in the management company Four Seasons Hotels and Resorts which will continue to operate the resort,” bin Talal added.

KHC is one of the world’s foremost value investment firms that is internationally renowned for its interest in both high performance global brand and strategic regional interests. Based in Riyadh, KHC was founded in 1980 and publicly traded since 2007.