Saudi Prince Alwaleed gives tour of his hotel suite

Allegations against Prince Alwaleed included money laundering, bribery and extorting officials, a Saudi official said at the time.

He is also known for his outspoken views on politics - making headlines in 2015 when he called Donald Trump a "disgrace" on Twitter during the US election campaign.

The prince said he was able to communicate with family members and executives at his business during his time in detention.

Asked why he ended up held in the hotel and became one of its longest-serving detainees, he said: "There's a misunderstanding and it's being cleared. So I'd like to stay here until this thing is over completely and get out and life goes on."

"We have now a new leadership in Saudi Arabia, and they just want to cross all the Ts and dot all the Is. And I said: 'Fine, that's fine with me, no problem at all. Just go ahead.'"

Prince Alwaleed said his own case was taking longer to conclude because he was determined to clear his name completely, but he believed the case was now 95 per cent finished.

The prince said he was particularly upset by media reports that he had been sent to prison and tortured. "It's very unfortunate. I was planning to do an interview when I got out, which I think will be imminently.

"But I decided to accelerate the process and accept this interview today because these various rumours took place. They're unacceptable completely. They are just a bunch of lies."

After freedom, the prince said, he plans to continue living in Saudi Arabia and getting back to the high-paced and complex challenge of juggling his global interests.

"I will not leave Saudi Arabia, for sure. This is my country. I have my family, my children, my grandchildren here. I have my assets here. My allegiance is not on the table."