Prince Alwaleed: Richest Arab In The World!!

Prince Alwaleed bin Talal bin Abdul Aziz Al Saud! The Prince! Richest Arab in the World! Developer of Kingdom Centre! Greatest Arab investor in world history! Worth over $20,000,000,000!! World Famous!!

I first learned of Prince Alwaleed, founder of Kingdom Holding, in 1997 when Forbes Magazine finally brought him into the eye of the public in their 'Annual Billionaire Issue.' Prior to this he was almost unknown to the world. I have been following his amazing life ever since. Here is his portfolio. He actually owns all or part of these major companies.

PRINCE ALWALEED'S PORTFOLIO:

1. Al Azizia Commercial Investment Company
2. Apple Computer Inc.
3. Arab Palestinian Investment Company Ltd. (APIC)
4. Ballast Nedam N.V.
5. Canary Wharf Group pls
6. Citigroup
7. Consulting Clinics
8. Disneyland Resort Paris
9. eBay Inc.
10. Fairmont Hotels & Resorts
11. Four Seasons Hotel Cairo at Nile Plaza
12. Four Seasons Hotel George V Paris
13. Four Seasons Hotel London
14. Hewlett-Packard Company (HP)
15. International Financial Advisors K.S.C.C. (IFA)
16. Kingdom Hospital
17. Kingdom Agricultural Development Company (KADCO)
18. Kingdom Centre (covered in last post)
19. Kingdom City
20. Kingdom Holding Company
21. Kingdom Hotel Investments (KHI)
22. Kingdom Schools
23. Kingdom Zephyr Africa Management Company (KZAM)
24. Kodak Corporation
25. Kuwait Invest Holding Company
26. Lebanese Broadcasting Corporation (LBC)
27. Motorola
28. Mövenpick Hotels & Resorts
29. National Industrialisation Company
30. News Corporation
31. Palestine Development & Investment Ltd. (PADICO)
32. Pepsi Co.
33. Plaza Hotel New York
34. Priceline.com
35. Rotana Audiovisual
36. Saks Fifth Avenue
37. Samba Financial Group
38. The Procter & Gamble Company
39. The Savola Group
40. The Walt Disney Company
41. Time Warner Inc.

AMAZING!! The Prince also owns a Palace in Saudi Arabia that is as big as a hotel. His yacht, Kingdom 5KR, used to belong to Donald Trump, The Sultan of Brunei and Adnan Khashoggi - and he is having a bigger one built. He just bought himself his own private Airbus A380, which will be his new "Flying Palace" and go nice with the 747 he also owns!

Prince Alwaleed truly defines the word MEGA! At only 53 years of age there is a very good chance that he will one day become the Richest Man in the World! He never stops! In his own words:

"Unless you live at 150 miles per hour, the world will pass you by."

Here is a great 1 hour interview between Charlie Rose and The Prince:

http://www.youtube.com/watch?v=7gzQumNTeCY&feature=related

This video is of The Prince's daughter, Reem, getting married:

http://www.youtube.com/watch?v=3OSM9Ew6cmE&NR=1

This link takes you directly to Prince Alwaleed's holding company, Kingdom Holding:

http://www.kingdom.com.sa/index.asp

Here is a great article about a day in The Prince's life. There is also a lot of other information on The Prince here:

http://www.arabianbusiness.com/12445

Kingdom Centre, Riyadh, Saudi Arabia

Kingdom Centre, located in Riyadh, the capital of Saudi Arabia, was built by the richest Arab in the world-- Prince Alwaleed bin Talal. The Prince developed Kingdom Centre not only as the world headquarters for his business empire, but as an iconic symbol for all of Saudi Arabia. The design for Kingdom Centre took 3 years before the Prince was satisfied enough to begin construction. The result is fantastic! Kingdom Centre is the most spectacular Mega Development in all of Saudi Arabia!

According to the developer:

'Its strategic location coupled with unmatched distant visibility distinguishes Kingdom Centre from any other building in the Region. It has transformed the landscape around Riyadh's fastest-growing business and commercial district, crowning Olaya's emergence as the new centre of Riyadh, as its glittering icon rise from the district's highest and most strategic location; at the crossroads of King Fahad Expressway, Olaya Road and Orouba Road, a central location giving it unrivaled accessibility, visibility and prestige.'

Kingdom Centre has 4 major divisions:

1.) Business offices. Kingdom Centre offers the most modern and luxurious office space in all of Saudi Arabia. The offices are in the magnificent Kingdom Tower, the tallest skyscraper in Saudi Arabia. The office tower utilizes "intelligent building" for the highest level of technological sophistication. If I decide to open an office in Saudi, it will be here!

2.) Al Mamlaka. The huge three level mall located in Kingdom Centre. You will find all the luxury brands here, and the two "anchors" of the mall are Saks Fifth Avenue and Debenhams. A unique feature of the mall is Ladies Kingdom, an entire section in the mall where only ladies are allowed to enter. Even all the staff here are female.

3.) Apartments. A large variety of luxurious 1, 2 and 3 bedroom apartments with plenty of upscale amenities. In my opinion, this is the place to live in Riyadh.

4.) The Four Seasons Riyadh at Kingdom Centre. A 5-Star Luxury Hotel that occupies 10 floors of Kingdom Tower. The Four Seasons offers 197 guest rooms and 52 suites, spa and fitness facilities, an outdoor pool, a full service business center and 5,500 square meters of function space and conference facilities.

Prince Alwaleed truly has created a Saudi Icon with Kingdom Centre! It is one of the finest and most well thought out Gulf mixed use Mega Projects I have ever seen. If you are in Riyadh you must see Kingdom Centre.

This YouTube video is of someone driving by Kingdom Tower. You will see just how huge it is compared to everything else around it:

http://ca.youtube.com/watch?v=QJuvgjXLP48&feature=related

Here is the Kingdom Centre website link:

http://www.kingdomcentre.com.sa/kc/

Here are some good photos and more information about Kingdom Centre from Emporis:

http://www.emporis.com/en/wm/bu/?id=100934

This link takes you to the Four Seasons Riyadh at Kingdom Centre:

http://www.fourseasons.com/riyadh/

Palm Trump International Hotel & Tower, Dubai

Donald Trump is a smart man! He is one of the richest men in the world, and one of the biggest developers of luxury real estate on the planet. Therefore it came as no surprise to me when Mr. Trump and Dubai Mega Developer Nakheel decided to team up and create the Palm Trump International Hotel and Resort. The Palm Trump will be located on Nakheel's landmark development, Palm Jumeirah-- it will act as an "anchor" for the project. By this I mean that Palm Trump is being located at the trunk of Palm Jumeirah, and will be the first Mega Structure one sees when entering the Palm Island.

Donald Trump had this to say about the project after he and Nakheel formed their partnership:

"I am delighted to invest, manage and sell this project on what is clearly the best location in Dubai. When I look at potential sites for real estate investment, I concentrate on 'location, location, location' and this is not only the best location in Dubai, but the whole of the Middle East.''

...and this is what Sultan Ahmed bin Sulayem, Executive Chairman of Nakheel had to say:

"With The Palm Jumeirah development, Nakheel is creating an icon for the twenty-first century, and it is entirely fitting that The Trump Organisation is a key player and investor in realising this vision."

The Palm Trump will cost an estimated $600Million and, like everything Donald Trump develops, it will be very, very luxurious. The Palm Trump will be a 48-storey mixed-use hotel and condo project with a 300 room 5-Star Hotel and 360 freehold residential condos. When the condos are not in use the owner will have the option to make their unit available through the hotel's rental program. Some of the amenities include exclusive access to a private beach and yacht club with tennis courts, gymnasium and fitness center, stylized pools and gardens, spa, fine restaurants, high end boutiques and much more.

The structure of Palm Trump is quite unique featuring a futuristic split linked tower design:

"The Palm Trump International Hotel and Tower will soar into the sky, its twin sets of glazed diamond shaped structures at the top of each tower creating a since of infinity as the glazed elements blur building and sky. In designing the property, we focused on creating a magnet for tourists and residents and a landmark icon on the Dubai skyline," said Donald Trump's son, Don Jr.

Palm International Hotel and Tower will be more than a big winner for both Donald Trump and Nakheel, it will in fact be a big winner for all of Dubai and the UAE. I am sure there will be many more Trump projects to come! Welcome to Dubai, Donald!

See pictures of the Palm Trump here at Emporis:

http://www.emporis.com/en/wm/bu/?id=streetpalmtrumpinternationalhoteltower-dubai-unitedarabemirates

This link takes you to the Trump website:

http://www.trump.com/main.htm

This link takes you to the Palm Trump area of Nakheel:

http://www.nakheel.com/News/Donald_J_Trump_Jr__T/

Noor Al Ain, Abu Dhabi

The first thing I said to myself when I saw the plans for Noor Al Ain was "WOW! ALDAR has done it again!" Noor Al Ain is another ALDAR masterpiece being built in Al Ain, Abu Dhabi. There is a lot of new development starting in Al Ain and it all looks great to me!

Noor Al Ain is a multi use Mega project that will contain a 300-room business hotel, department stores, cinemas, family entertainment facilities, luxury business offices, terraced gardens, parks, walkways, fine and family friendly dining, a health and fitness club, a waterpark and even a huge indoor beach! Noor Al Ain will include 7 towers: 6 residential towers with over 1300 apartments of all sizes and one hotel. There will also be enough parking for 8000 cars and 160,000 square meters of retail and entertainment space. The towers look incredible, very futuristic and cutting edge.

Noor Al Ain will be far more than a residential and business center with a mall. According to ALDAR CEO Ron Barrott, Noor Al Ain will be a unique travel destination:

"Noor Al Ain will be more of a destination than a mall, offering a retail mix and facilities for all budgets designed for the family."

...and according to Ahmed Ali Al Sayegh, Chairman of ALDAR:

"The creation of this retail and leisure complex will form a new town center and will add great benefit for Al Ain residents to shop, rest and play, whilst also ensuring the region's special character and charm are retained. ALDAR has consulted with world-leading architects to ensure a tasteful development which enhances its surroundings, adding value without compromising the essence of Al Ain."

The architecture for Noor Al Ain is 'based on the popular styles of multi-function shopping areas found at Sydney's Darling Harbor and Brisbane's South Bank, with a modern twist of Arabia," according to ALDAR.

ALDAR continues to amaze me with the Mega Projects they create....and I think Noor Al Ain will amaze everyone who sees it!

Here is a great YouTube video (also in the sidebar of this site) featuring Noor Al Ain:

http://www.youtube.com/watch?v=V6EDeIXs_wY

...and here is the link to the Noor Al Ain website:

http://nooralain.com/home.html

The Mega Developers: ALDAR

Continuing with the Mega Developers series, today we will take a closer look at UAE development giant ALDAR of Abu Dhabi. Just established in 2004, ALDAR already has $71Billion in projects being developed, making them one of the biggest real estate developers in the world. ALDAR is run by Ahamed Ali Al Sayegh, Chairman and Ronald Stephen Barrott, CEO. ALDAR is owned by a number of Abu Dhabi financial institutions including:

- Mubadala Development Company
- Abu Dhabi Investment Company
- Abu Dhabi National Hotels Company
- National Corporation for Tourism & Hotels
- National Investor

According to the company:

'ALDAR was established primarily to create world-class real estate developments for the nation of Abu Dhabi, whilst providing a stable and profitable investment portfolio for all our investors. We are dedicated to achieving new standards of innovation, excellence and value in urban design and sustainable development. Our priority is the immediate and future benefit of Abu Dhabi and its residents.'

ALDAR has some of the most spectacular Mega Projects being developed I have ever seen. The company has the "No Limits" attitude of the Emirates and channels this into some of the finest real estate developments in history. Here is the complete list of ALDAR projects:

- Al Falah, UAE
- Al Gurm Resort, UAE
- Al Jimi Mall, UAE
- Al Raha Beach, UAE
- Central Market, UAE
- Mina Zayed Port, UAE
- Abu Dhabi Plaza - Astana, Kazakhstan
- Al Abraj Towers, UAE
- Al Bandar, UAE
- Al Dar Academies, UAE
- Al Dar for Healthcare Services, UAE
- Al Mamoura, UAE
- Al Muneera, UAE
- Coconut Island, UAE
- Crimea Resort, UAE
- Ferrari World Theme Park, UAE
- Noor Al Ain Project, UAE
- UAE F1 Circuit, UAE
- Yas Island, UAE

Any one of these Mega Projects is more than most real estate developers would ever even imagine building...and ALDAR has only been with us for 4 years!! Furthermore, they are planning more new Mega Projects as you read these words!

Contact:

ALDAR Properties
P.O. Box 51133
Abu Dhabi,
United Arab Emirates
tel: +971 2 696 4444
fax: +971 2 641 7501
websites: http://aldar.com/
http://hoyamal.ae/

You can also find continuously updated ALDAR news, as well as a variety of YouTube videos of ALDAR Mega Projects, in the sidebar of this site.

CITYSTARS, Cairo, Egypt

Today we will venture outside the Gulf Region and go to Cairo Egypt to cover a landmark Mega Project for this area, CITYSTARS. The largest Mega Project to date for Egypt, CITYSTARS is a gigantic mixed use complex constructed at a cost of $800Million. CITYSTARS is an Egyptian themed colossus and consists of 3 pyramids made partially of glass, surrounded by 11 towers, that make up the complex, and a separate building for the shopping mall/entertainment center.

From the developer, Golden Pyramids Plaza:

'CITYSTARS is the latest landmark in Cairo and consists of three international hotels including 1500 room accommodation options, shopping and entertainment center, a medical center, office and residential towers. The hotels are: InterContinental Citystars, the Holiday Inn and the Stars Suite Hotel. The InterContinental Citystars hotel provides guests and business travelers a choice of 19 versatile function rooms and banqueting halls. The hotels offer all types of restaurants, bars, coffee shops, casino, health clubs and swimming pools, located right next door to Stars Center, the largest retail and leisure complex in the Middle East and Europe. The center enjoys an overwhelming interior design which resembles the inside of a Pharaonic temple with huge pillars, colorful floor design, exotic wooden bridges and water features.'

Stars Center is fabulous! It contains 550 stores, an entire indoor theme park, a 21 screen cinema complex, the largest hypermarket in Egypt and a 20,000 sqm exhibition hall that is host to some of the largest conventions in the region. Stars Center is also a "smart" structure with LCD screens throughout, giving the latest store promotions and a variety of security features.

The office towers at CITYSTARS, called Stars Capital, have been "designed to international specifications providing the largest and most advanced multimedia infrastructure of its kind in the world. Forty-five thousand outlets are available in all the project, CISCO Systems multi-service network offering voice, data and video over the same infrastructure, IP telephony, all available terrestrial stations and CITYSTARS portal," according to the developer.

The 790 room 5-Star InterContinental Hotel at CITYSTARS offers its guests the highest quality luxury accommodations available anywhere in Egypt. What is very interesting here is that the hotel offers a CASINO! You will never find this in the UAE...at least not yet. A 330 room 4-Star Holiday Inn at CITYSTARS will provide a more affordable alternative to the InterContinental, while still providing high quality accommodations. An All Suites Luxury Hotel, to be called Stars Suite Hotel, will be the third hotel in the group and provides another 170 rooms to CITYSTARS.

The residential part of CITYSTARS, Stars Living, is a group of towers offering 266 apartments, duplexes and penthouses overlooking the three pyramids of CITYSTARS and offering unlimited views of the swimming pools, club house, and parks of CITYSTARS.

An ultra modern medical tower will also be built at CITYSTARS called Stars Care. This will give CITYSTARS visitors and residents, as well as the surrounding community, the finest health care available.

CITYSTARS is a prime example of how the Mega Project boom of the UAE/Gulf Region is spreading to other parts of the Middle East. This trend should and will continue!

Here are two YouTube videos of CITYSTARS:

http://www.youtube.com/watch?v=28DaCxF3lz4&feature=related

http://www.youtube.com/watch?v=ezmOMcfUtpI&feature=related

This is the link to the CITYSTARS website:

http://citystars.com.eg/citystars/index.asp

Omagine, Sultanate of Oman

Mark my words, The Sultanate of Oman is going to develop into one of the most desirable travel destinations in the world. One of the newest and most exciting of the Oman Mega Projects is Omagine. The developer of the project, Journey of Light, Inc. was given approval by the Government of Oman to proceed with the development of Omagine, a mixed use tourist - residential - business Mega Project with an estimated cost of $1.6Billion.

Omagine will be a completely integrated development combining entertainment, cultural, residential, business and leisure components into one dynamic whole. From the developer:

'The Omagine development site is located on an amazingly pristine coastal stretch of beachfront approximately 20 km. northwest of Muscat and only 4 km. from the Oman International Airport. The approximately 1,000,000 square meter property (approximately 245 acres) has one kilometer of beach frontage, but will be developed to have over 7 km. of water frontage - of which 1.8 km. will be beach-front.'

Omagine will offer:

- A magnificent theme park containing 7 pearl shaped buildings, each 60 feet in diameter. Each of these "pearls" in turn will have associated exhibition buildings. This pearl theme park, according to the developer, will be the "Landmark" of Omagine,

- A 5 Star Hotel Resort and another 4 Star Hotel have already signed on, and I am sure more will be coming aboard,

- For hosting live concerts there will be an open air amphitheater and stage. As I have noted in many previous posts, the Gulf will one day become the entertainment capital of the world and all the top performers will be on stage in this region,

- A large variety of shopping venues featuring high end brands as well as shops offering unique products of the Omani culture. Restaurants of all kinds will also be featured at Omagine,

- An enclosed harbor and canal area will offer a desirable waterfront lifestyle destination,

- Office buildings will be part of Omagine creating a very attractive business location for Omani and other Gulf companies,

- Numerous parks, gardens and walkways will be integrated into the project,

- A large variety of residential choices including apartments, villas, condos and town homes.

Omagine truly has it all! I am a big fan of Oman! The potential of this Sultanate is HUGE....and with Mega Projects like Omagine this great potential will be realized.

Here is the link to the Omagine website where you can learn more and view a video of the project:

http://omagine.com/index.html

Addax Port, Reem Island, Abu Dhabi

Addax Port, like Shams Abu Dhabi, is another Mega Development being built on Reem Island, which is Abu Dhabi's largest and greatest Mega Project to date. Covering a total area of 8.7 million sq feet, and costing $1.8Billion, Addax Port will have its own private bay setting on Reem Island. The project will feature four uniquely designed residential towers and one commercial tower--offering a total of over 3000 luxury apartments and commercial offices.

Mr. Saaed Al Qahtani, CEO of Abu Dhabi Towers Investment Company - a subsidiary of Saudi owned Al Qahtani Group - stated the following about the Addax Port project:

"Addax Port has been conceptualized to become a home concentration of international enterprises and operations headquarters within Abu Dhabi’s vibrant business environment. We aim to provide local and international buyers with projects that answer the growing need for residential and commercial requirement in Abu Dhabi and the UAE at large. We believe that this project will boost the real estate and development industry in Abu Dhabi and the UAE. We have already received positive interest from prospective investors, reflecting strong confidence and robust demand for development projects such as Addax Port."

...and why did Al Qahtani Group choose Abu Dhabi? "This is our first real estate venture in the UAE and we chose Abu Dhabi after undertaking a study. We forecast huge demand for commercial and residential property in Abu Dhabi over the next five years. Also, the economy of Abu Dhabi is robust and we are impressed by the vision of the rulers," stated Mr. Al Qahtani.

The Office Tower, being the only 100% commercial tower on Reem Island, will be the center for business on Reem Island and a business center for the Abu Dhabi mainland as well. According to the developer, "As well as an ultra modern facade, the interior design is the pinnacle of convenience and luxury with intelligent workspaces that may be utilized by both the new employee and the CEO."

The four residential towers; Park Tower, Marina Tower, Executive Tower and Light Tower, will offer ultra modern upscale living. These 50 storey high towers will feature a central shopping area, community facilities, landscaped gardens and a beautiful marina which will have extensive road systems and connection networks with the rest of Reem Island and Abu Dhabi offering ultimate accessibility for residents.

Addax Port on Reem Island, due to be finished by January 2010, is destined to become a major business and residential Abu Dhabi landmark.

This link takes you to the Addax Port website:

http://addaxport.com/index.html