QATAR TOPS BUY­ERS OF LON­DON PROP­ER­TIES

Ekaruna - - News Round Up -

Lon­don was the re­cip­i­ent of 44 per­cent of real es­tate in­vest­ments made by sov­er­eign wealth funds in 2013, CNN re­ported, cit­ing a study by re­search firm Real Cap­i­tal An­a­lyt­ics. Qatar’s sov­er­eign wealth fund, which owns some of Lon­don’s most fa­mous land­marks in­clud­ing the Shard, Har­rods depart­ment store and the Olympic vil­lage, topped the list of buy­ers closely fol­lowed by Kuwait, China and Nor­way. Kuwait spent $2.7 bil­lion on the More Lon­don, while China paid $1.2 bil­lion for the Chiswick Park of­fice de­vel­op­ment, home to of­fices of multi­na­tional firms like Dis­cov­ery, Star­bucks and Para­mount. Nor­way fol­lowed with a $544 mil­lion in­vest­ment in the 400-year-old Pollen Es­tate in the May­fair sec­tion, home to the likes of Ralph Lau­ren and Chopard. Lon­don at­tracted $8.9 bil­lion in for­eign gov­ern­ment in­vest­ments in 2013, fol­lowed by Man­hat­tan with $2.3 bil­lion and Los An­ge­les with $1.5 bil­lion.

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