HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) received at his office in Riyadh on Wednesday 2nd October, 2013 HE Prof. Dr. Ayman Farid Abouhadeed, Egyptian Minister of Agriculture and an accompanying delegation that included HE Mr. HE Mr. Afif Abdulwahab, Egyptian Ambassador to Saudi Arabia, Prof. Dr. Mona Mehrez Aly, Supervisor for the Central Administration of Foreign Agricultural Relations of Ministry of Agriculture, Egypt, Dr. Raafat Zaki, Director General of Organizations and Conferences, Mr. Ehab Suleiman, Consultant Egyptian Embassy to Saudi Arabia, Mr. Ahmed Zaki, Consultant Egyptian Embassy to Saudi Arabia and Mr. Daniel Leroux, CEO, KADCO Egypt.
The meeting was also attended by Mr. Mohammed Fahmy, KHC’s Deputy CFO, Mr. Mohammed Almujadidi, Senior Executive Manager, Office of HRH the Chairman, Dr. Nahla Nasser Alanbar, Private Executive Assistant to HRH the Chairman, Ms. Intisar Al Yamani, Executive Manager, Corporate Communications Department and Mr. Fahad Bin Saad Bin Nafel, Executive Assistant to HRH the Chairman.
The meeting began as the Minister thanked Prince Alwaleed for giving him and the delegation the opportunity to meet with him. During the meeting, the two discussed the warm friendship between their two countries and referred to a number of social and economic issues. The meeting touched upon the latest developments in the region. Furthermore, they discussed KHC’s 25,000 Acre (100 million sqm) investment in Toshka.
In September 2013, Prince Alwaleed concluded his private visit in Sharm El Sheikh, Egypt. Prince Alwaleed expressed his satisfaction with the current situation in Egypt after its government, headed by the Acting President Judge Adly Mansour, and with Dr. Hazem Al Beblawi, Prime Minister, and Gen. Abdel Fattah el-Sisi, First Deputy Prime Minister and Commander-in-Chief of the Armed Forces and Minister of Defence, asserted its authority through-out the country.
His Royal Highness added: “Egypt and the people of Egypt have always been dear to the Custodian of the Two Holy Mosques, King Abdullah Bin Abdulaziz, and to the people of Saudi Arabia. I personally have been distressed by the recent events in Egypt, and am very pleased that security and stability have been restored in the country so that Egypt can resume its rightful role in the world and region.” His Highness emphasized: “Kingdom Holding Company will continue with its investments in Egypt.”
Kingdom Holding Company Investments in Egypt exceed $2 Billion in various sectors that include the hotel sector through Kingdom Hotel Investments (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 23 Four Seasons hotels, Fairmont Raffles hotels and Mövenpick Hotels & Cruisers across Egypt. Also in the banking sector KHC has presence in Egypt via Citigroup and in the agricultural sector through its 100% direct ownership of the strategic Toshka project.
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, Masryiah, Clip, Aflam and Musica broadcasting the latest Arabic movies, series, music videos globally and LBC group. Furthermore, Rotana has radio stations, a chain of cafes in most cities across the Arab World and it owns a magazine. 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 which also broadcasts from Egypt and through Nile Sat.