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Prince Alwaleed Receives Outgoing Lebanese Ambassador Who Bids the Prince Farewell

December 25, 2011

HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) received at his office in Riyadh, HE Major General Marwan bin Abdulhamid Zein, outgoing Lebanese Ambassador to Saudi Arabia. The meeting was also attended by Dr. Nahlah Alanbar, Private Executive Assistant to HRH the chairman.

The meeting began as the Ambassador thanked Prince Alwaleed for giving him the opportunity to meet with him. The two discussed the bi-lateral relations and warm friendship between their two countries as well as regional and global economic issues. The Ambassador commended Prince Alwaleed on his support to Lebanon especially through his investments, as well as his charitable and humanitarian contributions through Alwaleed Bin Talal Humanitarian Foundation.

In conclusion to the meeting the Ambassador bid Prince Alwaleed farewell as he has come to the end of his post as Lebanese Ambassador to Saudi Arabia. His Highness wished HE Major General Marwan Zein the best on his future endeavors.

In 2010, HE President Michel Suleiman, Prince Alwaleed, HE Nabih Barri, Speaker of Parliament and Sheikh Saad inaugurated the Four Seasons Hotel, Beirut. The Hotel is managed by Four Seasons Hotels and Resorts, in which KHC, holds a 47.5% stake based in Canada.

To mark the occasion, Prince Alwaleed gave a speech in which he addressed the President and his distinguished guests. Following the speech, the three leaders and HRH unveiled the plaque during the prestigious ceremony. The event was attended by Members of the Lebanese Parliament, Members of the Council of Ministers, H.E. Ms. Leila El Solh, the Diplomatic Corps, other dignitaries, the media, business people, investors from the GCC, and a delegation from Kingdom Holding Company.

Prince Alwaleed commented: “Our support for Lebanon on the economic, social and philanthropic fronts is unwavering. We are proud to announce the opening of the FS Hotel, Beirut. This prestigious hotel is another landmark in the region. Beirut is currently one of the most attractive locations for tourism in the region. Lebanon is witnessing economic stability and is attracting global investors.”

The Four Seasons Beirut is a five-star luxury hotel, located on the corniche in central Beirut and directly opposite the new Solidere marina facilities.

Kingdom Hotel Investments (“KHI”) headquartered in Dubai (UAE), is the leading international hotel and resort acquisition and development company focused on high growth emerging markets such as the Middle East, Asia, and Africa. KHI has a controlling 38% equity ownership in the Four Seasons Hotel Beirut.

The Prince’s other investments in Lebanon through KHC includes the Movenpick Beirut in the hotels sector, and in the financial sector through Citigroup. HRH’s private assets and investments in the media sector in Lebanon include Rotana and LBC, and various Lebanese newspapers. Prince Alwaleed also owns stakes in Al Nahar and Al Diyar newspapers.

The “Alwaleed Bin Talal Humanitarian Foundation”, in Lebanon is vice chaired by H.E. Ms. Leila El Solh. The Foundation covers all the Lebanese humanitarian issues and provides medical, health and social assistance to orphanages, infirmaries, prisoners and the disabled and educational and cultivation assistance for the development of projects in the economical and agricultural sectors across all communities in the Lebanon. The Foundation was awarded the Pontifical Medal by Pope Benedict XVI during a ceremony to mark the occasion held at the Vatican in 2008. The medal was in recognition of the achievement and efforts made by the Alwaleed Bin Talal Humanitarian Foundation for encouraging tolerance between the different religious faiths and social groups in Lebanon, and promoting religious dialogue. Moreover, the medal acknowledged the Foundation’s philanthropic activities and support to those in need regardless of their background and creed. Ms. El Solh personally received the medal from the Pope at the Vatican.