Slowly but surely, Qatar builds up a global empire worth $335bn
Qatar may be one of the smallest countries on the planet, but it is also the richest in terms of per capita income.
It is also known for hosting some of the world’s biggest sporting events and closing some of the biggest financial deals ever.
Just in the last two months, Qatar invested in Turkey’s biggest poultry producer, Russian oil giant Rosneft PJSC, and UK gas company National Grid Plc. All these were made through the Qatar Investment Authority (QIA), which was created in 2005.
The country has amassed $335bn worth of assets around the globe, making QIA the 14th largest sovereign wealth fund in the world, according to Bloomberg.com.
After a brief lull due to the low oil prices, things are once again looking up. Here are some of QIA’s significant investments around the globe.
QATAR
The $17bn Hamad International Airport greets you the moment you land in Qatar. Qatar Airways, backed by the QIA, manages it.
QIA is the biggest investor in Qatar’s stock market and holds an almost $100bn worth of domestic portfolio, including majority stakes in Qatar National Bank and Ooredoo.
EUROPE
QIA has invested heavily in Europe. They poured billions into Barclays and Credit Suisse Group during the 2008 financial crisis. QIA is the biggest shareholder in German carmaker Volkswagen and played a pivotal role in Glencore’s $29bn takeover of Xstrata in 2012.
Qatar Sports Investments bought French club Paris Saint-Germain in 2011 and went on to make a splash on the field.
Mayhoola for Investments SPC, a company backed by Qatari investors, bought Italian luxury brand Valentino Fashion Group SpA in 2012.
UNITED KINGDOM
A Qatari-led group bought London’s Canary Wharf in 2015. The country already has stakes in a host of London properties including Savoy Hotel, the Shard skyscraper, Harrods department store, the Olympic Village and HSBC tower.
Qatari Diar, QIA’s real estate development unit, is converting the US Embassy on London’s Grosvenor Square into a luxury hotel, and is building homes at the former Chelsea Barracks.
The QIA is the largest shareholder in J Sainsbury (22% stake). QIA owns 20% of London’s Heathrow airport and Qatar Airways raised its stake in British Airways owner IAG to 20% last year.
RUSSIA
Qatar closed a $11bn Rosneft deal with Glencore in December. Qatar also bought 24.9% of the St Petersburg airport.
USA
QIA opened an office in New York in 2015 and laid plans to invest $35bn in the country by 2020.
BeIN Media Group acquired Miramax, a California-based film company.
QIA acquired almost 10% of Empire State Building owner Empire State Realty Trust Inc. last year. It has also partnered with Brookfield Property Partners on an $8.6bn mixed-use project on New York’s far west side.
ASIA
The QIA agreed to buy Singapore’s Asia Square Tower 1 from BlackRock Inc. for $2.5bn, the biggest office transaction in Singapore. They acquired a stake in department-store operator Lifestyle International Holdings Ltd. and holds 20% of Hong Kong billionaire Li Ka-Shing’s electric utility company.
Courtesy: Bloomberg.com
