26 October 2016
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  • mediazioni e arbitrati, risoluzione alternativa delle controversie e servizi di mediazione e arbitrato

    » 08/17/2012, 00.00


    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.

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    See also

    27/02/2008 QATAR
    Doha: European banks are the new target for Arab investments
    The rich Gulf country has declared itself in favour of investing in Europe. The figures add up to around 15 billion dollars.

    05/07/2010 ASIA
    Chinese banks recapitalise as China follows in the footsteps of Greece
    The recapitalisation of Chinese banks is a sign that a new, worldwide wave of insolvency is just around the corner. This time, Asia is on its path. If war should break out in the Persian Gulf or if BP goes bust, we could be in for a financial upheaval.

    27/06/2011 CHINA
    Wen in Europe to boost trade and ensure bond purchase
    China wants closer economic ties with Europe, and clear doubts about its high inflation and harsh clampdown on human rights. Europe wants to sell securities to guarantee liquidity. Human rights and jailed dissidents are on the sidelines.

    27/11/2012 QATAR - UNITED NATIONS
    Doha, fears and doubts about the UN conference devoted to climate change
    Until December 7, about 17,000 delegates, representing 194 nations, will meet for the first time in an Arab country to discuss ecology. Experts call for a new treaty on the environment, to prevent "catastrophic" events. Conflicting results on the actual distribution of the 30 billion in aid to developing nations.

    26/07/2016 16:17:00 ISLAM - EUROPE
    Fr Samir: Islamic terror in France and Germany a crisis of integration, but above all of politics

    The kidnapping and murder of a priest near Rouen (France) and the various attacks in Würzburg, Munich, Ansbach (Germany) were carried out by young people, who were indoctrinated with ease. Germany was a model for the integration of refugees. But radical Islam cannot be assimilated. It is supported by Saudi Arabia and Qatar. There is no other road other than integration. But we must tell the truth: the Koran contains elements of war and violence. Western politicians suffer from ignorance and a loss of all moral sentiment.

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