[lbo-talk] Saudi prince to build hotel in Tel Aviv

Bryan Atinsky bryan at alt-info.org
Thu Feb 15 11:32:06 PST 2007


http://www.ynetnews.com/articles/0,7340,L-3365430,00.html

Saudi prince to build hotel in Tel Aviv

Prince Bin Talal to build 150-room hotel on Tel Aviv's coastline

by Ofer Petersburg

Saudi Prince Alwaleed bin Talal is in negotiations to build a hotel on Tel Aviv's coastline.

Two architects have already started working on the project. The one is Bin Talal's private architect, who had worked with him on oriental hotels across the world, Basel al-Beiti. The other is former Tel Aviv Chief City Engineer, Yisrael Gudovich.

The planned project is a joint venture with the Abulafya family, which owns a structure on a 1-acre plot on Herbert Samuel Street.

According to the blueprints submitted to the Tel Aviv Municipality, an eight-story, 150-room hotel is planned to be built on the site.

Bin Talal is the nephew of the late Saudi King Faisal, and is believed to be worth $26.4 billion.

The prince's empire includes holdings in banks, financing and investment firms, hi-tech and communications companies, leading hotels in the United States, Europe and the Arab world, and tourist sites.



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