Saudi prince to build Tel Aviv hotel

Thursday, February 15, 2007 |  by Staff Writer
Saudi Arabian Prince Alwaleed bin Talal plans to invest into Israel as he is in negotiations to build a hotel on Tel Aviv's coastline.

Bin Talal already has two architects working on the project. One is Basel al-Beiti, the prince’s private architect who has experience in designing oriental hotels around the world. The other architect is former Tel Aviv Chief City Engineer, Yisrael Gudovich.

The planned project is a joint venture with the Abulafya family, who owns a structure on a one-acre plot of land on Herbert Samuel Street.

According to recent blueprints submitted to the Tel Aviv Municipality, the hotel is to be an eight-story, 150-room complex on the Mediterranean Sea.

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 bank holdings, financing and investment firms, hi-tech and communications companies, leading hotels in the United States, Europe and the Arab world. Saudi Arabian Prince Alwaleed bin Talal plans to invest into Israel as he is in negotiations to build a hotel on Tel Aviv's coastline.

Bin Talal already has two architects working on the project. One is Basel al-Beiti, the prince’s private architect who has experience in designing oriental hotels around the world. The other architect is former Tel Aviv Chief City Engineer, Yisrael Gudovich.

The planned project is a joint venture with the Abulafya family, who owns a structure on a one-acre plot of land on Herbert Samuel Street.

According to recent blueprints submitted to the Tel Aviv Municipality, the hotel is to be an eight-story, 150-room complex on the Mediterranean Sea.

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 bank holdings, financing and investment firms, hi-tech and communications companies, leading hotels in the United States, Europe and the Arab world.

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