HRH Prince Alwaleed Bin Talal National Investments
1988
The purchase of a 30% stake in
United Saudi Commercial Bank (USCB). The market
value increased twenty-fold. HRH merged USCB and Saudi Cairo Bank into
United Saudi Bank (USB), which was merged into Saudi American Bank creating
the Middle East’s largest market capitalization and most profitable bank.
1993
The year marked the takeover of
Panda supermarkets and subsequent merger with Al-Azizia into Al-Azizia-Panda United (APU) for which one
billion Riyal ($267 million) capital was raised. APU invested in Herfy, the
local fast food chain which dominates the Saudi market with 60 restaurants.
In 1998, APU merged with Savola forming the region's largest food production
and services conglomerate.
1995
The purchase of 25% of Rotana Audio Visual Company, the largest Saudi
recording label with the top 100 Arab artists. In 2002, the stake was
increased to 48%, and in 2003 to 100%. The same year saw the conversion of
ART Music Channel to Rotana Music Channel, a 24-hour free-to-air channel
beaming the latest Rotana video clips.
1995
Acquisition of a majority in
National Industrialization Company (NIC),
a Saudi joint stock company with 45 subsidiaries in industrial projects. A
new board was appointed and a major restructuring program was implemented.
1996
Investment of 500 million Saudi Riyals (US$133 million) to establish Al-Azizia Commercial Investment Company, with primary objectives to invest
in the Saudi real estate and stock markets.
1995 – 2000
The commissioning of four
projects:
Kingdom Centre (1.7 billion SR):
300-m skyscraper with exclusive shopping, hotel, offices, and function hall.
Kingdom Hospital (400 million
SR): a 120-bed state-of-the-art medical facility.
Kingdom City (400 million SR): a unique,
furnished, 350 unit, self-contained housing community.
Kingdom Schools
(330 million SR): a 4,000 boys and girls, K-12 institution.
2002
Kingdom Hotel Investment Group (KHI) established to consolidate Middle
Eastern hotel assets into a single investment entity. Capitalized at $211
million, KHI owns 14 properties across the Middle East and controls over $1
billion worth of assets.
