Kampala — HE has taken his time starting on the multi-million dollar five-star hotel at the location where Shimoni Demonstration School and Teacher's Training College stood on Shimoni Road in Kampala.

That, however, does not mean that billionaire Saudi prince Alwaleed bin Talal is short of cash in any way. Judging by his latest investment, the Saudi Royal is on top of his game. International media earlier this week reported that Alwaleed bin Talal was announced Monday as the first private buyer of an A380 superjumbo, the world's largest passenger airliner whose passenger edition costs over $300m (over sh500b).

Alwaleed bin Talal, whose business interests include banks, hotels and resorts, has instead reportedly ordered for a much more expensive VIP version of the A380 dubbed the "Flying Palace."

Alwaleed bin Talal's identity has been kept a secret for months, prompting speculation that the buyer was actually Russian billionaire and owner of UK premiership football club Chelsea, Roman Abramovich. The latter denied the reports.