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Thursday, February 25, 2021

Report: Qatar top sovereign buyer of European property in past 12 months

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Qatar spent a whopping $4.3 billion – about six weeks of its natural gas revenue – on European property in the past 12 months, making it the continent’s top sovereign investor, a research firm has said.

The country came second only to private equity group Blackstone, which spent $4.5 billion, as Europe’s largest buyer this year, research from Real Capital Analytics found.

Since last August, Qatar has poured its money into eight key deals, including:

Qatar Investment Authority, which also has significant stakes in Sainsbury, the London Stock Exchange and the Chelsea Barracks site, has spent $7 billion on real estate since 2007, almost 80 percent of it in London and Paris, RCA told Reuters, which reports:

Sovereign wealth funds view top-quality property in the best locations as a safe bet in the global financial crisis…

“They have a lot of money to spend, so deals tend to be big and in the cities they know well,” (Joseph Kelly, director of market analysis at RCA, said).

Thoughts?

Credit: Photo by Mohamed Yahya

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