DUBAI: Saudi Arabia’s Kingdom Holding, the investment vehicle owned by billionaire Prince Alwaleed bin Talal, has sold a plot of land east of the Saudi capital to Subul Development Co, a bourse filing said yesterday.
The one million square metres of land near Riyadh was sold for SR300m ($80m), giving Kingdom a profit of SR185m, which will be booked in the company’s fourth-quarter results, the statement added. Kingdom sold New York’s Plaza Hotel last month to an Indian conglomerate for a $32.9m profit.
Reuters
