JEDDAH: Prince Alwaleed Bin Talal, Chairman of Kingdom Holding Company (KHC), received at his office in Riyadh Jejomar C. Binay, Vice President of the Philippines, Sunday. The discussions tackled investment issues and the bilateral economic relations between Saudi Arabia and the Philippines, the company said in a statement Sunday. Alwaleed has solid ties with the Philippines through his investments in the financial sector through Citigroup, and also in hotels through Fairmont Manila and Raffles Manila. The deal to develop these hotels was signed in 2007 by Alwaleed in his capacity as Chairman of Kingdom Hotel Investments (KHI), with Ayala Land, Inc. in Manila during his visit there. The project consists of 308 guest rooms and suites and 237 branded Raffles Apartments on 7,377sqm of land in the heart of the financial district of Makati City. The project approached $200 million. Both hotels are expected to open to the public in the second quarter of 2012. In addition, off-plan residential sales have achieved over $75 million to date with 75 percent of the units sold. The Philippine Vice President was accompanied by a delegation that included Ezzedin H. Tago, Chargé d'Affaires Philippine Embassy, Jejomar Erwin S. Binay, Jr. Mayor, Makati City, Hon. Francisco S. Tatad Vice Presidential Consultant and Special Counsel, Amb. J. Apolinario L. Lozada, Jr. Vice Presidential Consultant on Foreign Affairs and Rodolfo G. Plaza, Vice Presidential Consultant on Political Affairs. The meeting was attended by Dr. Nahla Al- Anbar, Private Executive Assistant to Alwaleed, Fahad Alofi, Executive Assistant to Alwaleed, Manal Al Shammary, Manager of Protocol Department, Aliaa Alhwiti, Protocol Officer and Abeer Al Tharwa, Protocol Officer.
