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Prince Alwaleed Receives German Minister Counselor, Deputy Head of Mission to Discuss Economic Issues

October 31, 2010

HRH Prince Alwaleed bin Talal bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) received Dr. Detlev Wolter, Minister Counselor Deputy Head of Mission from the German Embassy in Saudi Arabia. The meeting was attended by Mr. Fahad Alofy Executive Assistant to HRH the Chairman.

The meeting began as the Deputy Head of Mission thanked Prince Alwaleed for giving him the opportunity to meet with him. The two touched upon the latest regional and international developments on the social and economic front. Moreover, the Prince said that the Saudi Arabian economy was very strong and was the only Arabic country to have joined the G-20.

Dr. Wolter was keen on listening to the Prince’s views and pointed out that the Prince is well known for his significant and successful projects as he has a special vision for future potential investments. Furthermore, the Prince and Dr. Wolter discussed potential business investment opportunities, and HRH referred to his positive business relationship with Deutche bank and Citigroup.

The Prince’s investments in Germany include investments in the hospitality sector through Fairmont Vier Jahreszeiten Hotel in Hamburg, 16 Movenpick and 3 Swissotel Hotels, and in the banking sector through Citigroup.