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Saudi's Kingdom Holding completes $80 mln land sale - ASHARQ AL-AWSAT English Archive
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DUBAI, (Reuters) – Saudi Arabia’s Kingdom Holding, the investment vehicle owned by billionaire Prince Alwaleed bin Talal, has sold a plot of land east of the Saudi capital to Subul Development Co, a bourse filing said on Sunday.

The one million square metres of land near Riyadh was sold for SAR300 million ($80 million), giving Kingdom a profit of SAR185 million, which will be booked in the company’s fourth-quarter results, the statement added.

Kingdom, which holds minority stakes in some of the world’s top companies including Citigroup Inc, News Corporation and microblogging site Twitter, sold New York’s Plaza Hotel last month to an Indian conglomerate for a $32.9 million profit.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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