Shopping in London is so last decade...
European capitals like London and Paris were known to be full of Gulf Arabs during on shopping sprees during the summer months. Not content with doing just buying on the London high street, Qatari's are now buying the actual shops and land on those streets! :-)
The Gulf Times reports that
Foreign landlords, including Qatar, own over 60% of London’s Bond Street and Oxford Street, having snapped up numerous stores in the past five years as investors sought safe havens for their cash, data from Savills showed.
The property consultancy said foreign investors were also attracted to London by the weakness of sterling, with demand pushing total property sales to over £800mn ($1.3bn) on Bond Street and £2bn on Oxford Street since 2006.
Investors from countries, besides Qatar, such as Denmark, Libya, Hong Kong and Canada now own 61% of Oxford Street, while five years ago 96% of the street was held by UK funds and British and Irish private investors, Savills said.
How long before we see a karak store open on Oxford Street?
What about opening another Shahaniyah camel racing in the Oxford Street? Isn't it cool? BTW, will there be space?
It's Qataris that are owning these stores not mallus :)