DAMASCUS, 4 May 2005 — Syrian President Bashar Assad held a meeting in Damascus on Saturday with Prince Alwaleed ibn Talal, chairman of Kingdom Holding Company. Prince Alwaleed was on a short visit to Syria pursuant to an official invitation by the Syrian president.
Prince Alwaleed was received at Damascus International Airport by Syrian officials. President Bashar held a private luncheon for Prince Alwaleed.
During the meeting, the Syrian president thanked Prince Alwaleed for his generous contribution to the reconstruction of Zayzoun village. During his visit, Prince Alwaleed inaugurated Zayzoun village in Hama which he had pledged to reconstruct in 2002. The reconstruction was to house 504 families and rebuild all damaged utility services such as electricity, telephone, and water. Prince Alwaleed donated $7 million to rebuild the village. The project included the building of streets; an elementary, intermediate, and secondary schools in addition to a polyclinic, a hospital and a number of mosques. The two also discussed Prince Alwaleed’s investment in the Four Seasons Damascus Hotel. Prince Alwaleed had, in 1998 signed a contract in Damascus for the development and construction of the hotel.
Prince Alwaleed and the Syrian president acknowledged the warm friendship between their respective countries. Also on the agenda of discussions were social and economic bilateral relations and tourism in the region.