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| By: Israel Insider staff and partners |
| Published: February 15, 2007 |
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Saudi Prince Alwaleed bin Talal is in negotiations to build a hotel on Tel Aviv's coastline.
Two architects have already started working on the project: Bin Talal's private architect, Basel al-Beiti, who had worked with him on oriental hotels across the world, and Tel Aviv Chief City Engineer, Yisrael Gudovich.
The planned project is a joint venture with the Abulafya family, who owns the land on which the eight-story, 150-room hotel will be built.
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 holdings in banks, financing and investment firms, hi-tech and communications companies, leading hotels in the United States, Europe and the Arab world, and tourist sites.
Ynet writer Ofer Petersburg contributed to this report. |
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