(MENAFN) Kingdom Holding Co (KHC), owned by Saudi billionaire Prince Alwaleed bin Talal, has transferred a one million sqm plot of land just outside Riyadh for USD80 million, Arabian Business reported.
The company said the transaction with Jeddah's Subul Development Co resulted in a profit of USD49 million.
This is the second plot of land KHC sells to Subul in the last three months. The developer bought a 970,000 sqm patch of land in the same area for USD66.7 million in October.
Kingdom Holding holds stakes in some of some valuable firms in the world including News Corporation, Twitter, Four Seasons Hotels, the Savoy Hotel in London, Disneyland Paris, Apple and George V Hotel in Paris among others.
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