Qatar's sovereign-wealth fund snaps up London properties

06/18/2010 | Bloomberg

Qataris, Qatar's sovereign-wealth fund, has been acquiring high-quality properties in London. A company controlled by the fund acquired the office-and-retail Park House project for $370 million. Another unit of the fund is considering increasing its investment in Songbird Estates, which owns most of the Canary Wharf offices, to become a majority investor. Expect more investments along these lines, a Jones Lang LaSalle report says. "The return of the Qataris on the global real estate scene has been marked by an aggressive and bold investment strategy. As relatively young entities, Qatar-based institutions have shown a hunger for high-profile acquisitions and an eagerness to leave their footprint on the global map," the report says.

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