Second largest Gulf investment giant looking for Sri Lanka projects

The second largest sovereign investment giant in the Gulf region said last week that it is checking out Sri Lanka to invest in already- implemented projects and in the stock market.

"In Sri Lanka, we do not want to start any new development or construction projects but are looking for outright purchase of completed and implementation ready assets as our entry strategy. We are also looking to invest in Colombo's share market," Mohammad Saif Al Suwaidi (Head of Industrials and TMT Investments-Qatar Holding) was quoted as saying in a Ministry of Industry and Commerce me- dia release.

Mr. Al Suwaidi, who was in Colombo with his three member investment team, was addressing Rishad Bathiudeen (Minister of Industry and Commerce of Sri

Lanka) on 27 October during his courtesy call on Minister Bathiudeen in Colombo. Qatar Holding LLC (QH) is the powerful global investment arm of the Qatar Investment Authority (QIA) which is well-known and called as the Qatar Fund.

QIA is the second largest sovereign wealth fund in the Gulf Cooperation Council region after Saudi Arabian General Investment Authority (SAGIA).

"We are interested in buying completed real estates and properties- for example, a completed resort hotel here or some such finished real estate projects. Specially, we are keen on shopping malls and shopping arcades ready for implementation. Our minimum overseas investments rounds are $100-$150 million per project, and not less. We are even ready for higher values. When it comes to investment projects, QIA has lots of interest in Sri Lanka's tourism infrastructure, as well as government/public owned institutions such as State Owned Business Enterprises put up for sale to the private investors," said the visiting Qatari official.