Saudi prince scoops US$49m in US ranch sale

Saudi Arabia’s former US ambassador, Prince Bandar bin Sultan, has sold his sprawling ranch in Aspen, Colorado for US$49m, local media has reported. Hala Ranch, a 56,000 sq ft home set in 95-acres, was sold to Starwood Mountain Ranch, a local gated community, on Thursday, in the state’s largest ever real estate transaction, the Aspen Daily News reported. Prince Bandar, who served as Saudi Arabia’s ambassador to the US from 1983 to 2005, bought the land in 1989 before building the main residence in 1991. The property was first put on the market in 2006 for US$135m but was officially pulled off 16 months later. A statement released at the time said the Prince and his family “realised they enjoyed the ranch, and Aspen, too much to want to part with it”. Prince Bandar later sold two of his other Starwood homes for a combined US$49m in 2007. By Arabian Business