Saudi Prince Waleed due in Oct

Sheikh Shahariar Zaman

Dhaka, Jul 13 (bdnews24.com)?Saudi Prince Al-Waleed bin Talal is flying down to Dhaka in October to explore possible avenues of investment in Bangladesh, bdnews24.com can confirm.

Bangladesh embassy in Riyadh had contacted with the office of Prince Waleed and they conveyed that he wanted to come in October, said a senior official at the foreign ministry.

The bdnews24.com correspondent saw a letter from the Bangladesh embassy in Riyadh that communicated the conformation to the foreign ministry.

With a net worth estimated by Forbes at US$19.6 billion, making him the 26th richest person in the world, the prince came to Dhaka in 2005 and wanted to invest in the hospitality sector.

Prince Waleed, the chairman of Kingdom Holding Co., expressed desire to buy into one of the two five-star hotels?Pan-Pacific Sonargaon and Dhaka Sheraton.

"The office of the prince has asked the embassy to find out some prospective areas where he can invest," said the official, who refused to be named since he was not authorised to speak to the media on the visit.

The billionaire tycoon would also like to donate to some organisations during his visit, he added.

The member of the Saudi royal family has a net worth of about $20 billion and has stakes in Citigroup, Four Seasons and Fairmont hotel management chains.

He holds a stake in News Corp., the owner of The Wall Street Journal.

Price Waleed also expressed willingness to build one five-star hotel each in Dhaka and Chittagong.

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