Qatar wealth fund No 1 property investor in Europeby William Skidmore on Aug 21, 2012
Qatar’s sovereign wealth fund has been confirmed as the largest public spender on European property, according to Reuters.
Investments totalled over $4.33 billion in just eight deals in the last twelve months, which is equivocal to just six weeks' revenue from the LNG producing giant. Qatar was recently recognised as the wealthiest country in the world per capita.
Joseph Kelly, director of market analysis at Real Capital Analytics, said: "For sovereign wealth funds like the Qatar Investment Authority, property deals are about wealth preservation not returns. They have a lot of money to spend, so deals tend to be big and in the cities they know well.”
Some of the strategic investments that has been supported or bought by Qatar include the Shard, the London Olympic village, a mall on the Champs Elysees in Paris and investments on the Emerald Coast in Sardinia.
- Revealed: Details of Damac's London Nine Elms JV
- Doha city rents are world's tenth most expensive
- Reem Mall concept plans approved by Abu Dhabi UPC
- DIFC breaks ground on $55m Gate Village
- Etihad ESCO inked to conduct audits in Dubai
- Funding secured for 170MW Turkish geothermal plant
- Drake & Scull raises GCC ownership limit to 100%
- Drake and Scull increases GCC ownership limit
- Tourism projects to boost Oman's Dhofar Province
- RTA appoints Aurecon for further road development