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Prince Alwaleed Receives Maldivian Ambassador to Saudi Arabia to Discuss HRH’s Investments

October 29, 2011

HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC), received at his office in Riyadh, HE Mr. Adam Hassan, Ambassador of the Maldives to Saudi Arabia. The meeting was also attended by Dr. Nahla Alanbar, Private Executive Assistant to HRH the Chairman.

The meeting began as the Ambassador thanked the Prince for giving him the opportunity to meet with him as it is the first meeting for His Excellency with Prince Alwaleed since he took up post as Maldivian Ambassador to Saudi Arabia. During the meeting the two discussed general issues related to their respective countries. The two also discussed a number of general local, regional issues and the global economic climate as well as philanthropic issues, in addition to HRH’s investments.

In 2010, Prince Alwaleed received HE Dr. Aminath Jameel, Maldivian Minister of Health and an accompanying delegation. In the same year, HRH met with Dr. Mohamed Waheed, Maldivian Vice President. In 2009, HRH was on a visit to the Maldives with his spouse HH Princess Ameerah Altaweel Vice Chairwoman, Alwaleed Bin Talal Foundation. His Highness was warmly welcomed by President Nasheed, First Lady Madam Laila Ali, Dr. Waheed, and Mr. Ahmed Naseem, Minister of State for Foreign Affairs at the President`s residence. Moreover, the President conferred the Order of Distinguished Rule of Izzuddeen upon Prince Alwaleed during a ceremony. The medal is the country’s highest honorary medal, and it was in recognition of the Prince’s contributions to the development of the Maldives, and his distinguished services globally to promote bridges of understanding between world cultures. In his acceptance speech, the Prince thanked the President and commended the Maldives on their effort to bring the issue of climate change to the global front, and said that he would consider future potential investment opportunities in the Maldives.

Prince Alwaleed had made a $19 million contribution to aid Tsunami victims in South Asia and a considerable portion of the donation had been assigned to the Maldives. The Prince had also visited the Maldives in 2005. The $19 million donation comprised of cash as well as clothes and tents. The cash amounted to $4 million. The articles of clothing were valued at $11.7, and ten thousand tents valued at $3.3 million. This assistance was funneled, as all others through the sole agency officially designated by the Saudi Government to provide aid to the countries ravaged by the Tsunami. Furthermore, His Highness made $100,000 donation for the activities of the Society for Health Education.

Prince Alwaleed’s investments in Maldives through KHC include the management of two Four Seasons Hotels, one at Kuda Huras and the other at Lanaa Giraavaru through the Company’s stake in Four Seasons Hotels and Resorts. The Four Seasons Hotel at Kuda Huras was the largest hotel in the Maldives and destructed by the Tsunami. The hotel had undergone reconstruction and re-opened in 2005. Moreover, a third hotel is currently under development and under the management of Raffles.