Sheik Tarek Al Fassi, who's part of the Saudi royal family, recently sold his 10,271-square-foot Miami Beach mansion for $8.5 million. The buyer is Los Angeles developer Richard Meruelo.

The Mediterranean home, which was built in 1929, is on 2.7 acres of land that also boasts a sports field, swimming pool, gym as well as basketball and tennis courts.

The seller, Kenny Raymond, said it was the highest price paid for a home on Pinetree Drive. The home has 9 bedrooms, 8 baths and 180 feet of waterfront.

http://www.huffingtonpost.com/2012/05/11/saudi-prince-sheik-tarek-_n_1509823.html

Yeah, I see guys like this at South Beach clubs all the time - not sure if they are Saudi though.

Middle eastern comes to miami.