Songbird is involved in the management of its investment in its main subsidiary Canary Wharf Group plc. The principal activity of Canary Wharf Group is integrated property development, investment and management. In the first six months of 2006 Songbird generated revenues of £123.8 million and net income of £16.2 million. As at 30 June 2006, the market value of its property was £6.2 billion.

Prince Alwaleed was approached by the sponsors of London's Canary Wharf development in 1995, when the project was in receivership. Recognising the potential of Canary Wharf, which was designed to be the largest real estate and land development in Europe and London's new financial centre, the Prince was able to capitalise on the situation and directly structure a privately negotiated investment together with a consortium of other investors. This investment, and the Prince's ability to attract other investors into a consortium, enabled the successful completion of the Canary Wharf project. 

Canary Wharf's holding company completed its public listing in 1999. Prior to the offering, the Prince had received total dividends from this company equal to his initial investment in Canary Wharf, plus an approximately 8 percent return. In 2001, two thirds of the Canary Wharf investment was sold. Following the sale, the price of the Canary Wharf shares began a three-year decline. During this period, in 2004, a "corner-stone" investment was made in a Morgan Stanley-led consortium that, through its Songbird Estates acquisition vehicle, acquired control of Canary Wharf's holding company and took it private. Subsequently, Songbird Estates was listed on the AIM Market of the London Stock Exchange and approximately one-third of the Prince's investment was sold at a significant gain. Over the last ten years, the two investments in the Canary Wharf development have achieved a 43.6 percent internal rate of return through 30 March 2007.

KHC expects to continue to benefit from its association with Songbird Estates and will seek to apply the lessons learned from the Canary Wharf development in the Company's large-scale Jeddah and Riyadh land projects. In addition, KHC may seek the support of other investors from the Canary Wharf consortiums for these proposed developments.