A Saudi princess has reportedly bought a luxurious estate in Switzerland from the wealthy Nordmann family behind the Lacoste clothing brand and upscale department store chain Manor.
The sale price, which has not been disclosed, is said to be the second highest on record for the country. The highest, paid in 2009, is 74.7m francs ($79.9m).
The estate also was once owned by Gustave Ador, who was Swiss president in the early 20th century.Princess Latifa Bin Fahd bin Abdulaziz Al Saud, a daughter of former King Fahd, who bought the 18,800sqm property, has settled in the nearby municipality of Cologny and has committed to preserving the estate’s heritage, the Tribune de Genève reported.
The only villa on the estate, Hauterive, is protected along with other properties overlooking Lake Geneva.”All the guarantees were given by the purchaser with regard to preserving this heritage,” Bernard Favre, spokesman for the local urbanism department, is quoted as saying by the Tribune.
Outlying buildings on the estate are set to be converted, the newspaper said.Al Saud, 54, joins a number of other Saudi royals who already live in luxurious settings around Geneva.
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