Lap of luxury: Saudi princess splashes out $62 million on Geneva estate
A sprawling Geneva estate that once belonged to a Swiss president was bought by a Saudi princess for 57.5 million Swiss francs ($62 million, Dh228 million), media reported on Monday.
Princess Latifa Bint Fahd Bin Abdul Aziz Al Saud, 54 years old and a daughter of former King Fahd, bought the 18,800-square-metre estate from the wealthy Nordmann family that co-owns upscale department store chain Manor and the maker of Lacoste clothing, according to the Associated Press.
The estate, once owned by 20th century Swiss presidnet Gustave Ador, sold for the second-highest price on record in Geneva.
Al Saud,has committed to "preserving the heritage", the Tribune de Genève daily reported, according to Arabian Business.
The villa on the estate, known as Hauterive, is protected along with other properties overlooking Lake Geneva.
Located in the luscious countryside of Switzerland, Princess Latifa is one of many Saudi royals who relocated to the greener pastures of Europe.
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