Prince Alwaleed Bin Talal Alsaud, member of the Saudi Royal family, is to build three hotels in Uganda, according to an official from the Uganda Investment Authority (UIA).

UIA executive director Maggie Kigozi was quoted by local press as saying on Tuesday that "the Ministry of Education has resolved to relocate Shimoni Demonstration School and the Teachers College to Lugogo Bypass. The investor is to construct a five-star hotel on the 15.1 acres of land."

"Prince Alwaleed, who owns a multi-billion U.S. dollars company called Kingdom Holding Company, expressed interest in building three hotels. We have sent him a list of other locations that include land at the source of the River Nile and another one near Garuga on Entebbe Road," he said., adding that the Prince is "an investor Uganda cannot miss."

Prince Alwaleed met President Yoweri Museveni and other government officials during his three-hour visit to Uganda late last year.

The Prince, who is the fifth richest businessman in the world, has investments in banking, telecommunications, media, entertainment, hospitality, computers and electronics, agriculture, tourism, supermarkets, travel and automotive manufacturing all over the world.

Source: Xinhua