Saudi Prince and NYSE firm involved in Mecca Scandal

Submitted by mohammed (Kenya), Oct 23, 2008 at 09:55

HRH Prince Faisal bin Mugrin bin Abdulaziz, son of Prince Mugrin head of internal security, Al Muttahed a leading Saudi development firm listed on the Saudi Stock Exchange and Northcourse owned by Wyndham a NYSE company have been involved with a property scandal in the holy city of Mecca(Makkah) Saudi Arabia.

Le Meridien Hotel Towers Makkah offered a noble and spiritually rewarding product to Non Saudi's however this blessed gift is nothing but a shameful con.

The product was exclusively marketed globally by North Course based out of Dubai with ambitions of being the leading timeshare advisors, managers and operators in the entire Gulf region.

In cahoots with Saudi firms, (Saudi Amjad/Al Muttahed (a Saudi StockCompany) & Al Fassel Global Services) Northcourse, the creators of this project have been perpetrating a holy sin, marketing and promising the blessed gift of owning property in Holy Makkah close to the prophets Mosque to Non Saudis knowing full well that what they were doing was illegal, immoral and plainly deceiving buyers.

Le Meridien the hotel chain purported to be the timeshare resort managers through disclaimers denies any association with the project

"It has come to the attention of Starwood Hotels & Resorts Worldwide, Inc., (Starwood) that units at Le Meridien Towers Makkah hotel in Saudi Arabia are being offered for sale or rent as condominiums or timeshare by third parties. These timeshare units are not offered, licensed, sponsored or endorsed by Starwood, Le Meridien brand or any Starwood affiliates.

Starwood and Le Meridien brand disclaim any relationship with such timeshare or condominium units."

Apartments have also been sold to non Muslims as North Course claimed the investment would reap huge financial rewards, with the developer (Saudi Amjad / Al Muttahed) being aware to what was going on and signing contracts and issuing title deeds.

How can the Saudi Government condone this kind of scandal, this blasphemy in the Holy City? Northcourse, Almuttahed and Al Fassel Global Services need investigating and serious action taken against them, using the holy city for business purposes and cheating faithful out of money in this way is shameful.

The Saudi, other Gulf authorities and Allah (peace be upon him) should punish the perpetrators of this evil crime. Muslim companies, communities, mosques and Governments around the world should boycott doing business with the companies mentioned above.

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