Ma'an - 15 / 02 / 2007 Time: 09:25
Saudi Prince Al-Waleed bin Talal is in negotiations to build an eight-storey, 150-room hotel on Tel Aviv's coastline, the Israeli newspaper 'Yedioth Ahranoth' reported in its online edition.
The Israeli paper says that two architects have already started working on the project. One is Bin Talal's private architect, who had worked with him on oriental hotels across the world, Basel al-Beiti. The other is former Tel Aviv Chief City Engineer, Yisrael Gudovich.
The planned project is a joint venture with the Abulafya family in Tel Aviv, the paper says.
Bin Talal is the nephew of the late Saudi King Faisal. He is considered to be extremely wealthy (the paper suggests he is worth $26.4 billion) with an empire that 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.
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