19 September, 2014 AsiaNews.it Twitter AsiaNews.it Facebook            

Help AsiaNews | About us | P.I.M.E. | | RssNewsletter | Mobile





mediazioni e arbitrati, risoluzione alternativa delle controversie e servizi di mediazione e arbitrato
e-mail this to a friend printable version


» 08/17/2012
QATAR
Qatar buying up crisis-stricken Europe
About US$ 4.3 billion are invested in real estate and other assets, including the London Olympic Village and the British capital's skyscraper. The year to mid-August spending is equal to six weeks of revenue from liquefied natural gas exports. Last year's gas revenue totalled US$ 36 billion.

Doha (AsiaNews/Agencies) - Qatar invested US$ 4.3 billion in the past 12 months to buy up European companies, assets, luxury properties and football teams, making it largest sovereign property buyer in the European Union. The deals including the London Olympic Village and a mall on Paris' Champs Elysees, this according to research by Real Capital Analytics (RCA), a market research and commercial real estate information service provider.

For RCA, spending by the Qatar Investment Authority (QIA) during the year to mid-August equals only about six weeks of revenue from its liquefied natural gas exports.

In 2011, gas revenue totalled US$ 36 billion in a country of 250,000 native residents, which has some 1.2 million foreigner workers.

Since 2007, Qatar invested more than US$ 7 billion in real estate, mostly in London and Paris, funding the construction of the European Union's tallest skyscraper, the Shard, which opened in London just before the London Games. It also owns Harrods department store and has a 27 per cent stake in Songbird Estates, the majority owner of London's Canary Wharf financial district.

In Paris, the QIA bought property worth billions of dollars, including a huge, US$ 615 million hotel on the Champs Elysées.

In France, Qatar's sovereign, Sheikh Hamad bin Khalifa Al Thani, is famous for owning a majority share of the Paris Saint-Germain Football Club, one of the most prestigious outfits in French football.

In Germany, the emirate also has stakes in many companies, like German sports car maker Porsche.

In an interview with Bloomberg in April, Hussain Al Abdulla, a member on the QIA<s executive board, said that its spending strategy has been opportunistic. "We have no asset allocation or geographic allocation. After the financial crisis, all that went in the garbage."

In a few decades, Qatar, Saudi Arabia and Bahrain have used money earned from oil sales to become essential partners in Europe's economy and foreign policy, as evinced in the latest crises in the Middle East.

In Libya, Qatar and Saudi Arabia played a crucial role in funding the rebels and getting Western nations to attack Gaddafi, including specious reporting on al-Jazeera and al-Arabya.

The same appears to be happening in Syria where the two nations are funding and arming Sunni rebels against the Assad regime.


e-mail this to a friend printable version

See also
02/27/2008 QATAR
Doha: European banks are the new target for Arab investments
07/05/2010 ASIA
Chinese banks recapitalise as China follows in the footsteps of Greece
by Maurizio d'Orlando
11/27/2012 QATAR - UNITED NATIONS
Doha, fears and doubts about the UN conference devoted to climate change
06/27/2011 CHINA
Wen in Europe to boost trade and ensure bond purchase
08/19/2011 ASIA
Fears play out on Friday as shares plunge and gold hits record level

Editor's choices
IRAQ-VATICAN
"Adopt a Christian from Mosul": Archbishops’ thanks as first aid arrives
by Amel NonaMsgr. Amel Nona, the Chaldean Archbishop of Mosul, who is also a refugee himself, thanks all the donors to the AsiaNews campaign. The situation is increasingly difficult given the huge number of refugees and the arrival of winter and snow, making outdoor shelters and tents impossible. The crisis, an occasion that activates the faith of Christians.
ITALY - IRAQ
After raising € 350,000, 'Adopt a Christian from Mosul' campaign continues
by Bernardo CervelleraDonations raised up to 31 August have been sent to the patriarch of Baghdad and the bishops of Kurdistan. The campaign helps to feed, house, clothe, and bring comfort to more than 150,000 Christian, Yazidi, Turkmen, Shia and Sunni refugees who fled the violence of the army of the Islamic Caliphate. People in Italy and around the world have been generous, including the poor and the unemployed, a sign of hope for the world as well as those who suffer and those who give.
IRAQ-ITALY
"Adopt a Christian from Mosul," the thanks of the Patriarch Louis Sako; the concerns of the Bishop of Kurdistan
by Bernardo CervelleraThe head of the Chaldean Church is grateful for the AsiaNews campaign and hopes that "this chain of solidarity will reach far and wide”. Helping refugees to remain in Iraq. But many want to flee abroad. The bishop of Amadiyah where thousands of displaced people have found haven in churches and homes: We also help the Arabs (Muslims), and Yazidis, for free and without looking at our confessional differences.

Dossier
by Giulio Aleni / (a cura di) Gianni Criveller
pp. 176
by Lazzarotto Angelo S.
pp. 528
by Bernardo Cervellera
pp. 240
Copyright © 2003 AsiaNews C.F. 00889190153 All rights reserved. Content on this site is made available for personal, non-commercial use only. You may not reproduce, republish, sell or otherwise distribute the content or any modified or altered versions of it without the express written permission of the editor. Photos on AsiaNews.it are largely taken from the internet and thus considered to be in the public domain. Anyone contrary to their publication need only contact the editorial office which will immediately proceed to remove the photos.