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The Kingdom Holding Company (KHC; Arabic: شركة المملكة القابضة) is a Saudi conglomerate holding company, based in Riyadh. The KHC is a publicly listed company on the Tadāwul (Saudi stock exchange). The KHC consists of a select team of experienced investment specialists directed by its founder and chairman, Prince Al-Waleed bin Talal[2] and chief executive officer, Eng. Talal Ibrahim Al Maiman. The company describes itself as a diversified investment company, whose main interests are financial services, real estate, tourism and hospitality, media, entertainment, petrochemicals, aviation and technology.
 | |
Native name | شركة المملكة القابضة |
|---|---|
| Company type | Joint-stock company |
| Tadawul: 4280 | |
| ISIN | SA31RG522S19  |
| Founded | 1980 |
| Headquarters | , Saudi Arabia |
Key people |
|
| Revenue | 1,759,917,000 Saudi riyal (2019) |
| AUM | US$ 13.6 billion (2022)[1] |
| Total assets | 48,370,443,000 Saudi riyal (2019) |
| Owner |
|
| Website | www |
Present investments
editPresent investments include:[3]
- Four Seasons Hotels & Resorts (Canada-based) (owns 23.75% with Cascade Investment, LLC, and others)[4]
- Fairmont Raffles Swissotel (minority ownership with Accor)
- Hotel George V (100%) (France)
- KADCO Egypt (100%) (Egypt)
- Kingdom Hospital-Consulting Clinics [citation needed] (100%) (Saudi Arabia)
- Kingdom Hotels Investments (100%) (Saudi Arabia)
- Kingdom Schools (100%) (Saudi Arabia)
- Lebanese Broadcasting Corporation (100%) (Lebanon)
- Lyft (US)[5]
- Flynas (33%) (Saudi Arabia)
- National Industrialization Company (100%) (Saudi Arabia)
- Rotana Group (Arabic: روتانا), the Arab world's largest entertainment company (100%) (Saudi Arabia)
- X Corporation (minority stake)[6][7]
Past investments
editPast investments include:[3]
- 21st Century Fox (US / 6% minority stake, sold in 2017)
- 360buy (China / now publicly traded as JD.com)
- Amazon (US)
- AOL / Time Warner (US)
- Apple (US)
- Canary Wharf (UK)
- Citigroup (US)
- The Coca-Cola Company (US)
- Compaq (US)
- eBay (US)
- EuroDisney (France / now owned by The Walt Disney Company on a 87.15%[8])
- Ford (US)
- Hewlett-Packard (US)
- McDonald's (US)
- Motorola Mobility (US)
- Mövenpick Hotels & Resorts (Switzerland / 33% minority stake, sold in 2018 to Accor[9])
- News Corporation (US)
- PepsiCo (US)
- Priceline.com (US)
- Procter & Gamble (US)
- The Savola Group (Saudi Arabia)
- Saks Incorporated (US)
- SAMBA, Saudi American Bank (US)
- Marvel Comics (US)
- The Walt Disney Company (US)
Other involvements
editThe company is known for hiring the first Saudi female commercial pilot, Captain Hanadi Zakaria al-Hindi, who trained at the Mideast Aviation Academy in Jordan.[10]
It is the owner of and was the lead developer of the Kingdom Centre in Riyadh, Saudi Arabia.[citation needed]
Kingdom Holding is an active investor in sub-saharan Africa through Kingdom Africa Management, a private equity firm and subsidiary based in South Africa, Ghana and Nigeria. Kingdom Africa is run by J. Kofi Bucknor and focuses on growth equity investments.[citation needed]
In 2007, the company committed to purchasing an Airbus A380 "Flying Palace" for $485 million,[11] however according to the Kingdom Holding's chief financial officer the plane has been sold.[12]
In April 2010, the company sold part of its stake in Raffles Holdings International in a deal worth about $847 million to a group of investors, including an affiliate of Qatar’s sovereign wealth fund.[13]
In August 2011, the company announced plans for the construction of Jeddah Tower, one of the tallest buildings in the world.[14]
References
edit- ^ https://www.forbesmiddleeast.com/lists/top-100-listed-companies-2022/kingdom-holding-company-khc [bare URL]
- ^ "Saudi Arabia is giving itself an extreme makeover with 'giga-projects.' Will it work?". Los Angeles Times. 12 January 2023. Retrieved 4 December 2023.
- ^ a b "Saudi Kingdom Holding Company". Archived from the original on 26 January 2012. Retrieved 19 January 2012.
- ^ "Kingdom Holding". kingdom.com.sa. Retrieved 25 January 2023.
- ^ "Saudi's Kingdom Holding among group investing $247.7 million in Lyft". Reuters. 24 December 2015. Retrieved 5 September 2016.
- ^ "Saudis 'second largest investors' in Twitter after Musk takeover". Al Jazeera. 28 October 2022.
- ^ Wagdy, Lilian (28 October 2022). "Saudi's Kingdom Holding company to maintain Twitter stake". Reuters.
- ^ "Salon Mickey Blog". Salon Mickey Blog. Retrieved 6 June 2017.
- ^ "AccorHotels completes acquisition of Mövenpick Hotels & Resorts". group.accor.com. Retrieved 10 October 2021.
- ^ First Saudi Female Pilot Lands Job With Kingdom Holding, M. Ghazanfar Ali Khan, Arab News, 24 November 2004, retrieved 9 October 2009 Archived 27 May 2006 at the Wayback Machine
- ^ "HRH Prince Alwaleed bin Talal places first order for A380 flying palace" (Press release). Airbus. 12 November 2007. Retrieved 4 April 2011.
- ^ Prince Alwaleed bin Talal insulted at only being No 26 on Forbes rich list • The Guardian, 5 March 2013.
- ^ "Kingdom Holding Sells Stake in Raffles". dealbook.nytimes.com. 5 April 2010. Retrieved 20 September 2012.
- ^ "Kingdom Holding Contracts Construction of World's Tallest Tower". www.azobuild.com. 2011. Retrieved 25 August 2011.