KINGDOM SELLS INTERCONTINENTAL IN ZAMBIA

Prince Al-Waheed’s Kingdom Holding has sold its 100% interest in the InterContinental Hotel Lusaka in Zambia, Southern Africa, to Mauritian-based fund QG Africa Hotel LP for a gross consideration of US$35.9 million (approximately US$160,000 per room). The 224-room hotel is located in the diplomatic district of Zambia’s capital and largest city.

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