RIYADH: Saudi Arabian billionaire Prince Alwaleed bin Talal, detained in the kingdom’s sweeping crackdown on corruption, said on Saturday that he expected to be cleared of any wrongdoing and released from custody within days, with his vast assets intact.
Prince Alwaleed was speaking in an exclusive interview with Reuters at his suite in Riyadh’s Ritz-Carlton hotel, transformed into a luxurious prison to hold tycoons and royals.
He has been confined there for more than two months along with dozens of other suspects, part of Crown Prince Mohammed bin Salman’s bold plan to consolidate control and reform oil superpower Saudi Arabia.
It was the first time the prince, one of the nation’s most prominent businessmen, has spoken publicly since his detention.
Prince Alwaleed said he was continuing to maintain his innocence of any corruption in talks with authorities. He said he expected to keep full control of his global investment firm Kingdom Holding Co. without being required to give up assets to the government.
’Misunderstanding’
He described his confinement as a misunderstanding and said he supports reform efforts by the crown prince, known as MbS.
Prince Alwaleed was an early advocate of women’s employment in Saudi Arabia and a lifting of the ban on women driving. In September, King Salman ordered that the restriction should be lifted next year.
“There are no charges. There are just some discussions between me and the government,” he said in the interview, conducted shortly after midnight. “I believe we are on the verge of finishing everything within days.”
Prince Alwaleed appeared grayer and thinner than in his last public appearance, a television interview in late October, and had grown a beard while in detention.
“I have nothing to hide at all. I’m so comfortable, I’m so relaxed. I shave here, like at home. My barber comes here. I’m like at home, frankly speaking,” he said.
“I told the government I’d stay as much as they want, because I want the truth to come out on all my dealings and on all things that are around me.”
The flamboyant prince, in his 60s, is the face of Saudi business for many foreigners, often appearing on international television covering his diverse investments and lifestyle.
A 30-minute interview, including a tour of his suite, was granted largely in order to disprove rumors of mistreatment and of being moved from the hotel to a prison.
Prince Alwaleed showed off the comforts of his gold-accented private office, dining room and kitchen, which was fully stocked with his preferred vegetarian meals.
In the corner of his office sat tennis shoes, which he said he used regularly for exercise. A television played business news programs, and a mug with an image of his own face on it was perched on the desk.
The release of Prince Alwaleed, whose net worth has been estimated by Forbes magazine at $17 billion, is likely to reassure investors in his global business empire as well as in the Saudi economy broadly.
Directly or indirectly through Kingdom Holding, he holds stakes in firms such as Twitter Inc. and Citigroup Inc. , and has invested in top hotels including the George V in Paris and the Plaza in New York.
Dozens of princes, senior officials and top businessmen were detained when Crown Prince Mohammed launched his purge in early November, shocking Saudis who never imagined the business elite or royalty could come under close scrutiny.
Allegations against Prince Alwaleed included money laundering, bribery and extorting officials, a Saudi official told Reuters at the time.
He is also known for his outspoken views on politics — making headlines in 2015 when he called Donald Trump a “disgrace” on Twitter during the US election campaign.
The prince said he was able to communicate with family members and executives at his business during his time in detention.
Asked why he ended up held in the hotel and became one of its longest-serving detainees, he said:
“There’s a misunderstanding and it’s being cleared. So I’d like to stay here until this thing is over completely and get out and life goes on.”
“We have now a new leadership in Saudi Arabia, and they just want to cross all the Ts and dot all the Is. And I said: ‘Fine, that’s fine with me, no problem at all. Just go ahead.’“
Authorities said they aimed to reach financial settlements with most suspects and believed they could raise some $100 billion for the government this way — a huge windfall for the state, which has seen its finances squeezed by low oil prices.
In recent days there have been signs the purge is winding down. Several other prominent businessmen, including Waleed Al-Ibrahim, owner of regional television network MBC, have been released, an official source told Reuters on Friday. Terms of any settlement were not revealed.
Prince Alwaleed said his own case was taking longer to conclude because he was determined to clear his name completely, but he believed the case was now 95 percent finished.
The prince said he was particularly upset by media reports that he had been sent to prison and tortured.
“It’s very unfortunate. I was planning to do an interview when I got out, which I think will be imminently.
“But I decided to accelerate the process and accept this interview today because these various rumors took place. They’re unacceptable completely. They are just a bunch of lies.”
After freedom, the prince said, he plans to continue living in Saudi Arabia and getting back to the high-paced and complex challenge of juggling his global interests.
“I will not leave Saudi Arabia, for sure. This is my country. I have my family, my children, my grandchildren here. I have my assets here. My allegiance is not on the table.”
Detained Saudi billionaire Alwaleed confident his troubles will end soon
Detained Saudi billionaire Alwaleed confident his troubles will end soon
Riyadh to host 34th Saudi Build Exhibition
- The exhibition will be staged alongside the 25th edition of the power and water exhibition Saudi Elenex
RIYADH: The 34th edition of the Saudi Build Exhibition — the region’s largest construction exhibition — will be held from Nov. 4 to Nov. 7 at the Riyadh International Convention and Exhibition Center.
Up to 600 organizations from 31 countries and 22,000 professionals are expected to attend the event, which is being held under the patronage of the Minister of Municipalities and Housing Majed Al-Hogail.
The exhibition will be staged alongside the 25th edition of the power and water exhibition Saudi Elenex. It will focus on efforts to transform the construction sector through sustainability and smart technologies.
The Saudi Build Exhibition will cover topics including sustainability, advanced building technologies, and innovation. The event is managed by the Riyadh Exhibitions Company.
Saudi foundation discovers largest recorded sea turtle nesting site in Red Sea
- Discovery of site marks significant milestone in Saudi Arabia’s environmental conservation efforts
RIYADH: The Saudi General Organization for the Conservation of Coral Reefs and Marine Turtles in the Red Sea announced on Saturday it had identified the largest recorded sea turtle nesting site in Saudi waters.
Located on the Four Sisters Islands in the Red Sea, the discovery of the site marks a significant milestone in Saudi Arabia’s environmental conservation efforts, the Saudi Press Agency reported.
Khaled Asfahani, the organization’s CEO, said that the Four Sisters Islands had been designated as a protected area for sea turtle species management.
“These islands are essential habitats for endangered turtle species in the Red Sea, including the green turtle and the critically endangered hawksbill turtle. Protecting these sites is vital for the survival of these species, given that they return to these same nesting grounds each year,” he said.
The Four Sisters Islands — Marmar, Daharb, Malatu and Jadeer — have been identified as critical nesting areas with more than 2,500 recorded turtle nests. The islands are a crucial breeding ground for endangered species in the region.
Asfahani said that conserving the habitats is a strategic priority, as their survival supports the broader Red Sea ecosystem, essential for maintaining biodiversity.
The organization is developing a management plan to protect more than 180 identified beach nesting sites along the Red Sea coast in Saudi Arabia.
Its environmental teams are also working to enhance sustainable tourism and eco-friendly entertainment opportunities around the ecosystems, Asfahani said.
Sea turtles are a vital component of the Red Sea ecosystem and contribute to the area’s biological and environmental balance.
Jeddah Motor Show attracts 300,000 visitors
- The event highlighted a range of the latest vehicles and innovations
JEDDAH: The Jeddah Motor Show concluded on Saturday evening, having welcomed approximately 300,000 visitors and more than 250 journalists from around the world over its five-day run from Oct. 29 at Superdome Jeddah, according to the organizers.
The event highlighted a range of the latest vehicles and innovations, from cutting-edge electric vehicles to sports cars, passenger cars, motorcycles and intelligent driving systems. It also included the show’s first global premiere — the Kia Tasman — alongside the first appearances in the Kingdom of new models and advanced technologies from global brands including Peugeot, MG, Geely, Haval, Toyota, and Lexus.
The show appeared to have attracted many visitors considering purchasing new cars. One of them, Abdulaziz Al-Khalf, told Arab News that he had been waiting a long time for the show so he could select a new car for his family.
“Instead of moving around from one agent to another, I just waited to see all types of cars under one roof,” he said. “I made my decision and am looking forward to getting my contract signed at the agency’s showroom next week.”
The show also provided a glimpse of the future with concept cars. A visitor from Taif, Ahmed Al-Najjar, said: “It was a great opportunity for me to explore the latest advancements in automotive technologies, because for me it is what interests me most, since I specialize in innovation. I was really impressed to see the latest electric cars.”
Majed Al-Shikhi, a well-known car expert, described the Jeddah motor show as a testament to the evolving nature of the automotive industry in Saudi Arabia, from the rise of electric vehicles to brands’ commitment to sustainability and innovation. “The event provided valuable insights into the future of mobility,” Al-Shikhi said.
Beyond the cars, the show also offered entertainment and interactive experiences designed for all ages.
First public Day of the Dead celebration held by Mexican Embassy
RIYADH: In a historic evening, the Embassy of Mexico in Riyadh publicly hosted the Day of the Dead celebration for the first time in Saudi Arabia, opening the doors for everyone to experience the country’s rich cultural heritage and ancient traditions.
“We are thrilled, we are very happy. This is the first time that we are celebrating this cultural tradition open to the public — most of the time we used to do some small gatherings inside the Embassy, but for the first time we are doing it open to the public,” Mexico’s ambassador to the Kingdom, Anibal Gomez Toledo, told Arab News.
“Since Saudi Arabia and its Vision 2030 is embracing the world’s cultural expressions, I think this is an opportunity to get together, to invite our Saudi friends, to invite the international community, and to get together all of us in this important cultural activity for Mexicans and Mexican supporters,” the ambassador explained.
The embassy’s celebration for Dia de Muertos, known as the Day of the Dead in English, was held at the UN World Tourism Organization in Riyadh on Friday and welcomed ambassadors from other countries, locals and Mexicans living in Saudi Arabia.
Samer Al-Kharashi, director of the UN World Tourism Organization’s regional office in Riyadh, gave the opening address, saying that in 2003, UNESCO proclaimed the festival an Intangible Cultural Heritage of Humanity.
“Day of the Dead is an international celebration now, it is one recognized by UNESCO as a Cultural Heritage of Humanity in 2003,” Toledo said.
“This means that it attracts the entire world — a lot of nationalities, and you can see here there are people here from Mexico, from Latin America, from Europe, from Saudi and the Middle East.”
During his remarks, the ambassador said that the Day of the Dead is one of Mexico’s most profound and ancient traditions because of its powerful significance in terms of history, culture, and tradition and the great interest it has captured throughout the world.
“Around the Day of the Dead, families visit the cemetery, arrange the graves, and gather to place altars and offerings for their late loved ones to welcome them back during their quick visit. In almost all Mexican houses, wherever we are, families set up an altar with traditional decorations, flowers, their favorite meals and drinks, and their pictures,” he explained.
During Friday’s event, an altar was featured dedicated to prominent Mexicans who have promoted Mexico internationally.
“Personalities such as Octavio Paz, winner of the Nobel Literature Prize; Alfonso García Robles, winner of the Nobel Peace Prize; and Frida Kahlo and Sor Juana Ines de la Cruz, recognized ambassadors of Mexican cinema and art,” the ambassador explained.
“We honor their memory with this event that we dedicate to them today.”
During his speech, Gomez underlined: “Besides vindicating an ancient Mexican tradition today, this cultural activity confirms Saudi Arabia’s current moment as a friendly country to the world’s cultural expressions.”
Traditional foods and drinks were served during the celebration, including bread of the dead and hot chocolate, which are usually enjoyed on the days of Dia de Muertos from Nov. 1-2.
On the sidelines of the event an exhibit of photographs by Mauricio Silerio showcased black and white skeletal symbols associated with the festivities.
Thrift stores in Saudi Arabia: A rising trend with surprising costs
RIYADH: Thrift shopping, long associated with affordable and unique finds, has taken Saudi Arabia by storm.
But what is catching the attention of fashion-conscious Saudis is not just the idea of sustainable fashion, but also the rising price tags attached to these second-hand gems.
While thrift stores globally offer a budget-friendly alternative to fast fashion, in Saudi Arabia, this trend comes with a twist: Items, though pre-loved, can be surprisingly expensive.
As sustainable fashion becomes more mainstream, the appeal of thrift shopping has transcended its traditional boundaries. Saudis now seek out vintage treasures and one-of-a-kind fashion pieces, even if it means paying a premium.
One of the key players in this evolving market is Darah, a textile recycling startup founded by Rawan Al-Deraibi.
Al-Deraibi explained how Darah differentiates itself from traditional recycling methods: “At Darah, we’re redefining textile recycling by transforming discarded clothes into new, exciting creations.
“Unlike traditional methods that focus solely on material recovery, we give textiles a second life as ‘flipped’ fashion items, unique home decor pieces and much more. Our approach emphasizes creativity and sustainability, turning waste into functional and stylish products that tell a story.”
Winning a prestigious innovation award has propelled Darah to the forefront of sustainable fashion in Saudi Arabia, but for Al-Deraibi it is clear that this is only the beginning: “Our vision is to expand our presence in the fashion scene by deepening our collaborations with like-minded designers, sustainable brands and forward-thinking businesses. We’re excited to explore partnerships that push boundaries — whether through joint collections, upcycling workshops, or innovative fashion events that bring attention to the importance of circular fashion.”
For more information, follow Darah on Instagram: @darah.thrift.
On the other side of the spectrum is Thrift and Thrive, a small thrift store started by two friends, Norah and her partner, Alanoud Khaled, who share a passion for sustainable shopping. What makes their store unique is the personal touch they add to each item they sell.
“We’re two girls. We have different personalities and tastes, so, because of that, we had a variety of items — some vintage and some new,” said Norah.
Thrift and Thrive carefully curates its collection to maintain a balance between vintage treasures and modern trends, all while keeping sustainability at the heart of its business. “We listen to what our customers want and try to source what they want.”
Despite the growing trend of thrift shopping in Saudi Arabia, Norah was initially uncertain about how it would be received. “We decided to open a thrift shop knowing there’s almost no thrift site in Saudi: That’s what made us so excited to open one. We saw how people in Saudi felt open and comfortable about the thrifting concept.”
Thrift and Thrive’s popularity has continued to grow, fueled by the increasing interest in sustainable fashion and Norah’s commitment to expanding its impact. “With the rise of sustainability, we focus to grow Thrift and Thrive by inspiring people to embrace eco-friendly fashion. We want to reach more people who love this style and help the community thrive.”
Follow Thrift and Thrive on Instagram: @thriftanthrivee.
The public’s response to thrift shopping in Saudi Arabia reflects this growing trend, but not all experiences have been positive. While some shoppers are thrilled by the unique items they find, others have expressed concerns about the pricing.
Mohanned Saqar found that the prices he encountered in Saudi Arabia were much higher compared to his experiences abroad: “Thrifting is supposed to be cheap, but the prices here are very high, especially considering these are used items. Outside of Saudi Arabia, I’ve found great thrifted pieces at much lower prices. It just doesn’t make sense to pay so much for something that’s pre-owned.”
Nadia Yassin, another passionate thrift shopper, sees thrift shopping as both a creative and economic choice: “The idea that you find a unique piece with a story shared by the person who owned it before is fascinating. Then, matching it with a whole outfit adds to the experience.
“On the other hand, it helps reduce consumption by re-wearing items that are already made. The creative part in restyling the piece is what I find most exciting. Economically, I think it’s a more suitable option than buying new.
“Half of my wardrobe is thrifted, and when people ask about my outfit, I tell them I bought it for a certain amount and that it’s thrifted. A few people around me have been influenced and joined me, making it one of the most enjoyable experiences.”
For Sara Al-Ansari, thrifting is a chance to save money while finding one-of-a-kind items.
“Personally, thrift stores do really offer a unique experience,” she said. “Each piece of clothing carries a story, a history of the person who owned it before.
“When I thrift, I’m not just getting a low price, I’m connecting with those past lives and experiences. It’s like a tangible link to different times and places, allowing me to appreciate the individuality of each item. Plus, there’s something special about giving these clothes a new life, reducing waste and promoting sustainability.”
For those looking for more budget-friendly thrift options, Haraj remains a popular choice. Haraj markets sell everything you could ever think of, mostly used items ranging from furniture to clothing and electronics, often at prices significantly lower than in formal stores. Haraj Bin Qasim in Riyadh operates on a similar model, offering used goods at affordable prices, making it a haven for bargain hunters.
As more Saudis begin to appreciate the environmental and personal value of thrift shopping, the trend is expected to continue growing.
For those eager to explore this growing trend, @saudi.thrift is hosting an event in November 2024, where thrifting enthusiasts can gather and share in this sustainable fashion movement.
For now, thrift stores like Darah and Thrift and Thrive are not only thriving, but also helping to shape a new retail landscape — one where sustainability meets style, and where every item has a story waiting to be rediscovered.
