Undeterred by gloomy post-Brexit predictions, Qatar is investing billions in the UK
“It makes sense to invest in countries that will produce long-lasting and stable returns”
Qatar’s sovereign wealth fund plans to expand in the U.K. and the U.S., as top officials said long-term commercial opportunities would outweigh political uncertainty roiling the two countries.
The gas-rich Gulf emirate will add 5 billion pounds ($6.3 billion) to its U.K. portfolio in the next three to five years, and will set up an office soon in San Francisco -- its second in the U.S. after New York. The focus will be on infrastructure, technology, healthcare and real estate, they said.
The plans were announced on Monday in London, and the investments could help signal that the U.K. remains an attractive destination for foreign capital even after it leaves the European Union. Prime Minister Theresa May is set to begin the two-year clock on Brexit negotiations on Wednesday.
“We look at our investments purely on a commercial basis,” Finance Minister Ali Shareef Al Emadi told Bloomberg Television’s Nejra Cehic in an interview, responding to a question on whether turbulent Brexit talks would change Qatar’s view. “We were heavily investing in the U.K. and Europe during the financial crisis. Most of our investments are very much long-term.”
Qatar, the world’s biggest exporter of liquefied natural gas, is already a major investor on both sides of the Atlantic. It has assets valued at more than 35 billion pounds in the U.K., including London landmarks such as the Harrods department store, The Savoy hotel and the Shard skyscraper. The Qatar Investment Authority has also invested more than 60 percent of the $35 billion dollars it has dedicated to the U.S.
Denne historien er fra April 16, 2017-utgaven av Bloomberg Businessweek Middle East.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra April 16, 2017-utgaven av Bloomberg Businessweek Middle East.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Golfing With The Enemy
Did Donald Trump's executives violate the Cuban embargo?
Super-Rich Syrians Wait for War's End
Actor, author, playwright. Gill Pringle tries her hand at unravelling the mystery behind this enigmatic multi-hyphenate
Pam Codispoti
The mastermind behind the industry-shaping Chase Sapphire Reserve Card sets her sights on banking
This Time It's The Economy
President Rouhani’s budget sets offprotests from people angry about unemployment and inflation
Saudi Prince Counts On Support Of Citizens
State-worker salary increases appeal to the people, but policy may throw the budget off track
Stalin's Legacy Is Choking The Ukrainian Economy
The government has resisted pressure to lift a ban on land sales, despite pressure from the IMF and investors
Catastrophe Bonds Survive A Stormy Year
The turbulence of 2017 couldn’t destroy a market for betting against disasters
Riding The West Bank's Credit Boom
Increased consumer lending is creating a bubble in the West Bank
You'd Be Crazy To Buy Pizza With Bitcoin
Speculative fervour makes the cryptocurrency clumsy for commerce
What If The President Loses His Party?
Trump has to figure out a way to work with Republicans in Congress, or the global economy may be at stake