Saudi Billionaire Prince Alwaleed Sells Kenyan Hotels For $26 Million

This article was published on: 06/5/20 10:55 AM

Saudi billionaire Prince Al-Waleed bin Talal Alsaud has sold his stake in the Fairmont The Norfolk and Fairmont Mara Safari Club for $26 million.

Before the start of the Covid-19 pandemic, Prince Alwaleed’s investment firm Kingdom Holding sold his stake to the Chaudhary Group, a conglomerate owned by Binod Chaudhary, a Nepali billionaire.

Binod Chaudhary’s conglomerate  has investments in financial services, consumer goods, education, hospitality, energy, consumer electronics, real estate, biotech, and alternative medicine.

The two hotels came to the limelight last week after the management announced it was firing all the employees, citing the effects of the Coronavirus pandemic.

Read the full story on Nairobi News

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