Home Commercial Property10 events that prove Qatar is officially buying up ALL OF LONDON

10 events that prove Qatar is officially buying up ALL OF LONDON

by LLP Editor
29th Mar 16 11:54 am

With a sovereign wealth fund as big as $256bn, all it takes Qatar to snap up London assets is the snap of a finger.

Be it Harrods or One Hyde Park or the Shard, Qatar has its name sealed on many of Londonโ€™s iconic assets.

Take a look at these 10 events that prove that Qatar has officially taken over London.

1. Qataris own ยฃ1bn of property in Mayfair

According to research from estate agent Rokstone, a new โ€œQatari Quarterโ€ has started to develop in Mayfair thanks to Qataris buying swathes of luxury property in the area. The hottest addresses in the area areย Park Lane, Green Street, Mount Street, Upper Grosvenor Street, Upper Brook Street and Reeves Mews.

Becky Fatemi, Rokstoneโ€™s managing director said: โ€œOn the North West side of Mayfair property covering almost a quarter of the districtโ€™s 279 acres is now the West End address of choice for Qatari and other Gulf state end user buyers and tenants.

โ€œThe โ€˜Oil Royalsโ€™ and wealthy families from the Middle East view Mayfair as a luxury village and their favourite place in London, alongside Knightsbridge, for luxury shopping, dining out and leisure. Over two-thirds of Mayfair residents typically eat out 3-4 times per week and Middle East residents spend on average ยฃ1,900 per shop.โ€

2. Qatar owns 34% of the top 15 most expensive skyscrapers in London

Last month, a study by big data company GeoPhy found that Qatar-based entities currently own 34% of the top 15 most expensive skyscrapers in London whereas UK companies own just 21%.

Back in 2004 all the top 15 London skyscrapers were owned by UK companies.

3. Qatari sheikh owns the ยฃ200m Dudley House, at 100 Park Lane

Dudley House

Over 17 bedrooms, an 81-foot-long picture gallery, and a 50-foot ballroom, Dudley House is one of Londonโ€™s most expensive homes. Who owns it? None other than His Highness Sheikh Hamad bin Abdullah Al-Thani, A member of Qatarโ€™s royal family.

4. Qataris are owners of Claridgeโ€™s, The Berkeley & The Connaught

Last year, the Qataris bought three of Londonโ€™s poshest hotels – Claridgeโ€™s, The Berkeley & The Connaught – from the Barclay brothers.

Qatarโ€™s Constellation Hotels, which is controlled by Qatari sovereign wealth funds, bought a 64% stake in hotel company Coroin for an undisclosed amount. In 2013, they also bought Intercontinental Park Lane for ยฃ400m.

5. The whole of Canary Wharf sold to Qataris

In January 2015, Qatarโ€™s sovereign wealth fund, along with Canadian developers Brookfield Properties, won the bid to buy Londonโ€™s Canary Wharf for a cool ยฃ2.6bn.

6. Lord Sugar sells Burberryโ€™s old London HQ to Qataris for ยฃ65m

Even Lord Sugar couldnโ€™t resist a deal that the Qataris had to offer.

In June 2015, they bought Burberryโ€™s old flagship store on Haymarket for a whopping ยฃ65m from Lord Sugar.

According to The Times, Sugar purchased the property for ยฃ31.5m from a mysterious Russian investor two years before the deal.

7. Qataris purchase ยฃ40m Mayfair home

The Qatari ruling family purchased a six-storey Victorian Mayfair family home for more than ยฃ40m in May 2015.

The home, just off Park Lane, was sold by business tycoon David Meller, who was a former vice-chairman of Watford football club.

According to the Evening Standard, the sale will result in a โ€œstamp duty payment to the Treasury of more than ยฃ4.7mโ€.

8. Former Brazilian embassy on Green Street sells for ยฃ40m

The former Brazilian embassy building on Green Street was sold to Qatari Diar for a cool ยฃ40m. Rumour has it that the property will be the new London home of Sheikha Mozah bint Nasser Al Missned, the mother of the current Emir, Sheikh Tamim bin Hamad Al Thani.

9. ย The Qatari royal family buy 1, 2 and 3 Cornwall Terrace

In 2013, Sheikha Mozah bint Nasser Al Missned, one of the three wives of the former emir of Qatar Sheikh Hamad bin Khalifa Al Thani, snapped up three of Londonโ€™s most expensive properties for ยฃ120m.

Once the conversion of numbers 1, 2 and 3 Cornwall Terrace is complete, the combined property will be worth over ยฃ200m.

10. From Harrods to London Stock Exchange, here all London assets Qatar has bought over the years

What else does Qatar own in Britain? Check it out:

Harrods, Canary Wharf, now British Airways: Hereโ€™s what Qatar owns in the UK

Shard - Qatar - 300

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