Prince Alwaleed's Kingdom Holding To Decide On $1bn Property Spin-off

Saudi Arabian billionaire Prince Alwaleed bin Talal’s Kingdom Holding will decide within months on how to generate money from its domestic real-estate assets.

Initial public offerings and real estate investment trusts are among options for the portfolio, which is worth about 4 billion riyals ($1.1 billion), CEO Talal Bin Ibrahim Al Maiman said in Abu Dhabi on Wednesday.

Citigroup and Samba Financial Group are advising the company on its options, he said.

Last year, the billionaire had indicated he was likely to split the company’s $13 billion of assets through a spin-off of its local property and other holdings.

“It is about time to monetise,” especially the “income-generating ones,” the CEO said during the Bloomberg Invest Abu Dhabi conference.

“We have debated that in our institutional process of the investment committee. What is best? IPO? REITs? Hold? Rebuild? Asset sales? All of these things are at the table.”

When asked if @Kingdom_KHC has plans to invest further in both Lyft and Uber,

"Why not? We are an investment house. We don't love our investments, we make money off our investments." #BloombergInvest Abu Dhabi— Bloomberg Live (@BloombergLive) April 10, 2019

A five-year $1 billion loan with three international banks and two local ones has already been signed to fund investments, which will probably be mostly focused on Saudi Arabia, he said.