Guangming Daily, a national newspaper based in Beijing City, recently reported that Kingdom Holding Company invested $700 million in a Beijing real estate development project called the Jingdong Shopping Center. Saudi Prince Alwaleed Bin Talal owns 95 percent of Kingdom Holding Company. The announcement triggered widespread discussions in China. The Prince himself suggested that the investment “strengthened the strategic relationship between Saudi Arabia and China.” Chinese public opinion seems to agree that this average real estate project has now become much more political. The Prince has a very big investment portfolio, which includes Twitter, Amazon, Apple, Citibank, Coca-Cola, eBay, Ford, McDonalds, P&G, and Disney.
Source: Guangming Daily, February 18, 2013