Saudi Arabia a Mixture of Wealth and Poverty

See How Saudi royal Family Live

See How Saudi royal Family Live
Mon Mar 2, 2015 20:09:34

Saudi Prince Nawaf bin Sultan bin Abdulaziz Al-Saud is selling his A 10,500-square-foot, three-floor luxurious apartment with clear view of the Hudson River in New York's Upper West Side because he rarely uses it, real estate agent says.

When one bulletproof panic room is not enough, Saudi Prince sells three-floor New York apartment with a gym, sushi bar and THREE secret rooms for $48million, Daily Mail reports.

Saudi Prince Nawaf bin Sultan bin Abdulaziz Al-Saud is selling because he rarely uses it, real estate agent says.

The condo, which is located in the Heritage at Trump Palace, is filled with marble slabs and beautiful furniture. It might be sold furnished

Apartment was originally created by merging six smaller units on fifth, sixth and seventh floors of 31-story condo building.

Includes billiards room, hair salon, ventilated cigar room, outdoor terraces, spa and view of Hudson River. Marked down from original listing of $75million.

It is 10,500-square-foot, three-floor luxurious apartment owned by a Saudi prince that has three panic rooms and a clear view of the Hudson River in New York's Upper West Side has been put on the market for $48.5million - down from the $75million price is was listed for in 2012.

The apartment, reportedly owned by Prince Nawaf bin Sultan bin Abdulaziz Al-Saud, is located in the Heritage at Trump Palace and has four bedrooms, four bathrooms and six half bathrooms.

Though the extravagant space had all the amenities a person could ask for, the prince, 82, is selling his apartment because he rarely uses it, according to listing agent Ryan Serhant. 

One reason the prince doesn't use the apartment could be the fact that he is confined to a wheelchair. He suffered a stroke in 2002, according to The Washington Institute. 

The home was originally created by merging six smaller units of the 31-story condo building on the fifth, sixth and seventh floors, according to court records released by the Wall Street Journal.

With large slabs of Calacatta marble throughout the space, the apartment has three bulletproof panic rooms, a gym, billiards room, hair salon, a ventilated cigar room, a fully automated smart-home feature and a 60ft living room that overlooks the Hudson River.

The apartment also has a built-in saltwater aquariums, a sushi bar, outdoor terraces, a spa and a six-person Jacuzzi.
There are also monthly common charges of $19,705 and buyers have the option of hiring the apartment's current caretaker, according to Curbed.

The apartment is listed by a corporation in which Prince Nawaf bin Sultan bin Abdulaziz Al-Saud is the principal, according to a lawsuit relating to a past sale in the building.

Mr Serhant, the real estate broker, said there is a possibility that the apartment could be sold furnished.

The unit is selling for nearly $4,600 per square foot, which is high for the Upper West Side.

The price is more likely to be seen in areas of New York like 'billionaire's row', on 57th Street, according to Johnathan Miller, president of appraisal firm Miller Samuel.

The average price-per-square-foot in the Upper West Side is $1,572, which is nearly three times higher than New York's average of $627, according to Zillow.

Prince Nawaf bin Sultan bin Abdulaziz Al-Saud is a senior member of the House of Saud and was a close ally to the late King Abdullah. He served as the Director General of Saudi intelligence from 2001 to 2005.

It is only one part of priceless Saudi family who’s king call himself Guardian of the Holy Places. For example Saudi prince and billionaire love gold plane and super sport cars.

But Saudi has other reality; despite being world’s biggest crude exporter, large percentage of the people in Saudi Arabia live below the country’s poverty line.

In addition to the Saudi disproportionate allocation of country’s wealth the intrinsic corruption within Saudi Arabia’s royal family seems to be exacerbating the poverty and unemployment problem in the country.

According to a poll carried out by the Saudi National Anti-Corruption Commission, 67.8 percent of the respondents said the level of financial and state corruption is on the rise in Saudi Arabia.

Saudi Arabia is the world's largest oil exporter, with the black gold accounting for 90 percent of the country's exports.

 

 

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