Saudi Prince Khaled’s KBW to invest in Egypt

Saudi Arabia’s Prince Khaled bin Alwaleed bin Talal, chairman of UAE-based KBW Investments, plans to invest in projects in Egypt, especially in Sharm El-Sheikh.

In a meeting last week with Egyptian investment minister, Sahar Nasr, Prince Khaled said that he also plans to enter partnerships to expand several ongoing projects, and that he is willing to support stalled projects in Egypt, the Egyptian ministry of investment and international cooperation said on its website.

The prince said he encouraged to invest in Egypt following its measures to improve the investment environment, which includes a new investment law.

Prince Khaled is the son of billionaire Al Waleed bin Talal, chairman and founder of Saudi-listed Kingdom Holding Company.

Nasr commended the Egyptian-Saudi Business Council's decision to increase Saudi public and private sectors’ investments in Egypt to $51 billion.

The council plans to inject investments in the Suez Canal Development Axis, as well as the agricultural, tourism, energy and real estate sectors in Egypt.

KBW, a portfolio group based in Dubai, invests in a diverse range of businesses— from construction to technology to e-commerce.