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Prince Alwaleed Inaugurates Raffles Seychelles Resort & Residences Hotel Cost is US$ 137 million

May 29, 2013

HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) inaugurated on Monday May 27th, 2013 The Raffles Seychelles Resort and Residences on the northeast tip of Praslin Island, the second largest island in the Seychelles.

 

Moreover, the inauguration was attended by Mr. Simon Hirst, General Manager, Raffles Seychelles Resort and Residences and a delegation from KHC that included Dr. Nahla Alanbar, Private Executive Assistant to HRH the Chairman, Ms. Amani Algahtani, Assistant Executive Manager to HRH Palace, Mr. Naief Alzuhair, Manager Website & Social Media, Corporate Communications Department, Ms. Manal Alshammary, Protocol Department Manager, Mr. Hani Agha, Senior Manager for Travel and External Affairs, Mr. Fahad Bin Saad Bin Nafel, Executive Assistant to HRH the Chairman and the Resort and Residences executives and Mr. Mohammed Alfaraj, Assistant Manager, for Travel and External Affairs.

 

 

The Raffles Seychelles Resort and Residences is a 90- luxury villa resort hotel and 17 private residential villas. The cost of the Raffles Seychelles Resort and Residences is US$ 137 million and managed by Fairmont in which KHC owns a 38% stake.

 

In 2010, Prince Alwaleed visited the Republic of Seychelles. Prince Alwaleed was accompanied by a delegation from KHC and Alwaleed Bin Talal Foundation that is chaired by HRH. Prince Alwaleed was warmly welcomed by the President and people of the Republic of Seychelles and met with His Excellency President James Michel. The President and the Prince discussed economic, social and humanitarian issues, in addition to Prince Alwaleed’s investments in the country. Furthermore, the two discussed further investment opportunities in the hotel sector in Seychelles.

 

 

Also during the visit, Prince Alwaleed was awarded The Republic of the Seychelles Plaque the highest honor granted by the country in recognition of HRH’s invaluable contribution to the socio-economic development of the country for the people of Seychelles.

 

 

Moreover, Kingdom Holding’s other investments in the Seychelles is through the management of Four Seasons Resort Seychelles. The Resort has 62 tree house villas, five suites and 28 Private Residences. The Four Seasons in which Kingdom Holding holds a 47.5% stake and is co-owned by Bill Gates’ Cascade in which the company holds a 47.5% stake, and 5% of the Four Seasons is owned by Isadore Sharp.