You are hereHome CategoriesNews
Qatar's Diar eyes Europe investment after global crisis
Source: BI-ME , Author: BI-ME staff
Posted: Tue October 7, 2008 12:00 am

QATAR. A unit of Qatar Investment Authority (QIA) yesterday said it was looking into investing in Europe, including buying London office blocks worth up to £500 million (US$878 million), as prices were expected to fall.

“We are looking at buying office blocks in London because they are always in demand ... we are looking at an investment of between £80 million and £500 million,” Ahmed al-Mazroei, Deputy CEO of Diar, said.

Mazroei said Diar, the property arm of Qatar’s US$40 billion sovereign fund QIA, was looking to benefit from an expected decline of 15% to 20% in the European real estate market in the coming two years, which he said would make prices “cheap” in view of the liquidity crisis.

Commercial real estate valuations in Britain are 22% down on average from their peaks in the Summer of 2007. In September QIA bought a 20% state in British property company Chelsfield Partners.

QIA also holds stake in Britain’s J Sainsbury of approximately 27%, a stake in the London Stock Exchange of 15% and a 6% holding in Barclays. Its property interests include a 15% stake in Songbird Estates.
Mazroei said the firm was also looking at opportunities in either China, Hong Kong, Vietnam or Cambodia.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: September 30, 2016
INTERNATIONAL. Survey of 4,000 reveals extent of UK mobile owners' obsession with their devices; For the first time, the majority of mobile phone connections are over 4G.
date:Posted: September 30, 2016
INTERNATIONAL. 72% of UK CEOs voted to remain but also agree that loss of trust in big business was a factor in the EU referendum result, reveals KPMG.
date:Posted: September 29, 2016
UAE. Deloitte introduces first-of-its-kind Apple practice to help businesses change the way they work across their entire enterprise by designing and implementing iPhone and iPad solutions.
dhgate
cheap wedding dresses on Ca-Dress.com