INSEAD Day 4 - 728x90

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

Saudi prince stays in ‘world’s most expensive home’

Chateau Louis XIV in Louveciennes, (AFP file)
  • The 7,000-square-metre property was bought by an undisclosed buyer in 2015 for 275 million euros ($300 million at the time).
  • Bin Salman, 36, was reported two years' later by The New York Times to be the ultimate owner.

During his trip to France to meet President Emmanuel Macron, Saudi Arabia’s Crown Prince Mohammed bin Salman is staying at a lavish chateau dubbed “the world’s most expensive home” when he purchased it in 2015.

The Chateau Louis XIV in Louveciennes outside Paris is a new-build mansion intended to mimic the extravagant luxury of the nearby Versailles Palace, once the seat of the French royal family.

The 7,000-square-metre property was bought by an undisclosed buyer in 2015 for 275 million euros ($300 million at the time), leading Fortune magazine to call it “the world’s most expensive home.”

Bin Salman, 36, was reported two years’ later by The New York Times to be the ultimate owner.

Local government officials confirmed to AFP that the heir to the Saudi throne was staying at the property ahead of his dinner with Macron later on Thursday.

Reporters outside the perimeter wall saw security personnel in suits guarding the entrance and a large police presence, including half a dozen vehicles.

Macron and bin Salman were set to meet at the more modest Elysee presidential palace later Thursday for talks.

The chateau features a nightclub, a gold-leafed fountain, a cinema, as well as an underwater glass chamber in the moat that resembles a giant aquarium with white leather sofas.

Chateau Louis XIV was built in 2009 after a 19th-century castle on the plot was bulldozed.