Saudi prince buys lux­ury Canada ho­tel

The Pak Banker - - Front Page -

RIYADH

Saudi bil­lion­aire Saudi Prince Al Waleed Bin Talal's King­dom Hold­ing in­vest­ment group said yes­ter­day it has pur­chased the lux­ury ho­tel Four Sea­sons Toronto, Canada for $200 mil­lion (Dh735.6 mil­lion).

"The trans­ac­tion was funded by a $130 mil­lion mort­gage loan while $70 mil­lion came from (the com­pany's) own re­sources," Hazem al-Dosari, a King­dom Hold­ing Com­pany spokesman, told me­dia. The Four Sea­sons Toronto fea­tures 259 guest rooms, in­clud­ing 42 suites. "This trans­ac­tion is in line with our in­vest­ment strat­egy to de­velop ho­tels in se­lected key cities," Prince Walid said in a com­pany state­ment an­nounc­ing the deal.

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