Saudi Arabia's Al Khozama Management Company is in talks with Lebanon's Solidere to partner or acquire a mixed-used property in Beirut, its chairman has told Arabian Business.
AKMC, the property investment and management arm of the King Faisal Foundation, also plans to acquire residential property in London, Egypt and the US as it looks to grow the brand internationally, Prince Bandar bin Saud bin Khaled said.
"We're looking at projects outside of the kingdom," he said. "We're in final negotiations with a property owner [in Lebanon] to acquire. Or they will partner with us. We're talking to Solidare."
Solidere, which was founded by Lebanon's former Prime Minister Rafik Hariri, is the company charged with the reconstruction and development of Beirut's city centre.