The Bangladesh government has approved an offer by Kingdom Hotels Investments to spend up to $1 billion to build hotels and resorts in the country.Saudi tycoon Prince Alwaleed bin Talal, who owns a majority stake in KHI, visited Bangladesh last November and made a formal proposal to invest in the country's hotels and tourism sector.
KHI focuses on the luxury hotels sector in high-growth markets such as the Middle East, Africa, Asia and parts of Europe.
