King of Jordan just spent $340 million on a palace, golf course, and castles

The king of Jordan, currently on a trip to Washington, just expanded his collection of luxury homes. The city of Karak in Jordan was listed for sale at a guide price of 220 million Jordanian Dirhams (about $345 million). Jordan’s tourism and cultural minister, who also chairs the committee buying the property, told reporters last Friday that the site was not owned by the king. Although no exact price was revealed, he did say that the estimated net cost would be close to $340 million and that it was essential that the agreement preserve Jordan’s historical heritage.

Karak is one of the more beautiful cities in Jordan and was first listed in 2007. If the sale proceeds and the king acquires it, he would own most of the five-star luxury hotels in the area. The property — which already has a king’s palaces, guest houses, a golf course, and a national museum — includes one of the oldest historical houses in Jordan, built in the 9th or 10th century. For that historical significance, it will probably cost much more than any sum the king might have to spend on the royal family, which reportedly moved into the palace of the emir of Kuwait in 2006 for about $29 million.

While the king is trying to appear humble, he reportedly amassed his fortune through a family firm that runs businesses including hotels, clothing, publishing, and farms. The most valuable asset of the family-owned company is reportedly about $4 billion.

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Read the full story at The Washington Post.


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