NEWS
Wednesday December 6 2017
Milan: Arab group ‘revealed’

Saudi billionaire and property developer Fawaz Alhokair is reportedly behind Milan’s possible Arab takeover.

According to Telelombardia, the Arab group in question is the Fawaz Abdulaziz Alhokair Group, which has interests in property development and commerce.

It is already working on a project in Sesto San Giovanni, an area that has already been identified as a possible location for Milan’s new stadium.

The group has also invested in the construction of the Pescaccio shopping centre in Rome, which will be Europe’s biggest once it opens its doors.

Both works are estimated to have cost Alhokair’s firm a combined €1.5bn.

Alhokair is reported by Forbes to have a personal wealth of $1.21bn (€1.23bn), although it has yet to be clarified whether his group would purchase the Rossoneri outright or assist Li Yonghong in his running of the club.