KSA investors show interest to buy London’s Ritz Hotel

Talks are being held to sell the hotel to a private investment group

The Barclay brothers reportedly are looking for offers over US$979 million
The Barclay brothers reportedly are looking for offers over US$979 million

Undisclosed Saudi Arabian families are in talks to purchase the famous Ritz Hotel in London.

Sister-publication Arabian Business reported the families are being represented by a private investment group and are talking with current-owners Sir David and Sir Frederick Barclay.

The Financial Times broke the news, saying the brothers are reviewing interest from Jeddah-based Sidra Capital. The brothers reportedly are looking for offers over US$979 million. The publication added both the Barclays and Sidra Capital have not yet commented.

The Barclays purchased the hotel in 1995 for approximately $97 million but have made investments worth tens of millions said The Financial Times.

Situated in most of the most popular areas of London, the Piccadilly-located hotel is one of the most iconic in London and popular amongst celebrities and tourists alike.

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