A lucrative investment? Saudis pour millions into camels during Riyadh festival

In the festival, where more than 30,000 camels were showcased, a beauty pageant was organised, with up to 250 million Saudi riyals (66 million USD) in prize money.

Although some might find camels to be overpriced in the Kingdom, one camel owner Mohammed AlMarri, is happy with the high bill, having spent over 100 million Saudi riyals (26 million USD) to date to grow his collection.

Camels are the quickest way to wealth and profit, says Nasser AlAjmi, a Kuwaiti camel owner attending the event, adding that it is better than investing in real estate or the stock market.

The festival began on December 1st and will continue for 43 days.

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