business > realty check “Quite frankly, I don’t think that even if the FIFA World Cup 2022 is taken away from Qatar, it would have an impact on the real estate market. People working on the various infrastructure projects at all levels would still require accommodation, roads, hospitals, schools and offices to work from.” EDD BROOKES General Manager DTZ, Qatar
QIA invests in Vietnam and Hong Kong
Qatar Investment Authority (QIA) reportedly became the new owner of the tallest building in Vietnam in an $800 million deal.
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he QIA has accepted the $800 million price set for the acquisition of the Keangnam Landmark 72 tower in Hanoi, according to English-language newspaper The Korea Herald, which cited “investment bankers and news reports.” The complex, consisting of one 329-meter office tower and two 48-storey residence towers, opened in October 2011. The newspaper also said the QIA has also “gained exclusive rights for the ensuing negotiations.” The Doha-based company, which specialises in domestic and foreign investment, is one of the two
Award for Alfardan Properties Alfardan Properties was named winner of the "Luxury Residential Real Estate of Qatar Award" during the 2015 Luxury Lifestyle Awards at the Ritz-Carlton Hotel in Dubai.
The annual awards is an international ceremony which honours companies and brands in the luxury segment for exemplary initiatives and achievements. Alfardan Properties was honoured for living solutions which focus on luxury, sophistication and affluence. The company received a certificate of recognition and a Golden Crown Award symbolising its leadership in satisfying sophisticated and demanding luxury real estate clients.
20 > QATAR TODAY >JULY 2015
interested investors, besides Goldman Sachs, that have publicised their plans to acquire the 72-storey building. Hong Kong: The QIA has also bought a stake in Hong Kong billionaire Li Ka-shing’s electric utility by paying QR4.37 billion ($1.2 billion) to boost its investments in Asia. It will acquire a 19.9% interest in HK Electric Investments & HK Electric Investments Ltd., controlled by Li’s Power Assets Holdings Ltd. Through the deal, HK Electric will allow Power Assets to retain control of the utility, which supplies electricity to about 568,000 customers in the city.
Ruling family buys another home in London? The UK media reports suggest that the Royal family has bought one of London’s grandest family homes for over £40 million ($61.9 million).
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ritish papers reported that the Al Thani family purchased the six-storey listed Victorian townhouse close to Park Lane from businessman David Meller. Following on a raft of deals through which the Qataris have acquired a chunk of London’s exclusive Mayfair suburb, local property agents in the capital have dubbed the area "Little Doha". An unnamed real estate specialist told the London Evening Standard: “The [Park Lane] house is huge but is just one piece of the jigsaw. It is part of the assembly of a much bigger estate in north-west Mayfair. The Al Thani family is looking to build a vast luxury dormitory where you might have an aunt living in one property and a cousin in another,” the specialist said.