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Saudi Arabia’s Al Jaber Seeks More Europe Hotels With Cash

Sheikh Mohamed bin Issa al Jaber, Saudi Arabia’s third-richest person, plans to expand his luxury-hotel holdings in Portugal and elsewhere in Europe as the region’s debt crisis presents a buying opportunity for investors with cash.

Al Jaber, whose JJW Hotels & Resorts Ltd owns dozens of properties including the Grand Hotel Wien in Vienna and the Hotel Balzac in Paris, said his group will focus on four- and five-star luxury hotels.