Saudi encounters: Gulf billionaire to meet with business leaders in rare Palestine visit Tuesday

Saudi Arabian billionaire prince Al Waleed Ibn Talal is scheduled to visit Ramallah on Tuesday and meet Palestinian Authority president Mahmoud Abbas and business leaders, a Palestinian businessman said on Saturday.

Muneeb Al Masri told Ma'an that the Saudi prince would meet him and a delegation including other Palestinian businessmen on Wednesday at the Movenpick Hotel in Ramallah.

Al Masri confirmed that he was invited by deputy Palestinian Authority prime minister for economic affairs Muhammad Mustafa to join a reception for al-Waleed bin Talal on Tuesday.

Al Masri said that the prince, who has a net worth of around $30 billion, is a shareholder in Al Masri's group and that his visit "will be useful and effective."

During the visit, Al Masri added, Palestinian businessmen will discuss preparations for an economic conference to be held in Palestine in August. Private sector, public sector, and civil society organizations are supposed to partake in that conference.

In addition, bin Talal is expected to announce a donation for the Jerusalem Fund, an organization that does educational and humanitarian work in Palestine. He will also address possible plans to support the Palestinian economy in general.