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.
- Macro wins international SCB contract
- IFC to oversee Masdar's solar project in Jordan
- Dubai’s new fire code to be announced next week
- UPS, Emirates sign grant agreement for road safety
- Doha Festival City set for opening in March 2017
- Bee’ah offers smart waste recycling products
- Challenge 22: Innovators hoping to be shortlisted
- Building renovations can save 50% of energy costs
- Dubai property transactions post $3bn in 15 days
- Dubai Properties delivers over 3,000 units in 2016