Saudi tycoon Prince Alwaleed bin Talal said on Monday he is gearing up his Kingdom Holdings group for major new investments including Gulf hotels and a one-kilometre-tall tower in Jeddah on the Red Sea.
Alwaleed said he was transferring 180 million of his own shares in US banking giant Citigroup into Kingdom Holdings at no cost to shore up its balance sheet.
“I am very positive about the future,” he told a rare press conference at his headquarters, the Kingdom Tower skyscraper in Riyadh.
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