Compare Listings

Qataris tipped for London property spree amid crisis

A flood of investment is expected to flow into London property as the Qatari crisis ratchets up, experts predicted on Wednesday.

Qatari investors already own swathes of London real estate and, after Arab countries cut diplomatic ties to Qatar, a fresh wave is anticipated.

John Collier-Wright, whose firm JR Capital buys properties in London for Middle Eastern investors, told the Evening Standard: “The political fall-out with their neighbours will inevitably lead to less cross-border investment activity locally, and coupled with higher levels of liquidity from the rising oil price, we expect to see more capital flowing out of Qatar.

“The UK will be one of the first ports of call, and much of it may go into property.”

Andrew Thomas, director and head of international capital markets at Colliers International, said the tensions sparked when several countries accused Qatar of supporting terrorism in the Gulf region were “likely to trigger a further outward capital flow”.

He added: “We will see more Qatari money trickle into UK property as private investors mitigate against political volatility.”

Faisal Durrani, head of research at estate agent Cluttons, said: “These funds may well be forced to look elsewhere and London is likely to offer an obvious alternative.”

Qatari money has backed London buildings including the Shard skyscraper and the Olympic Village.

According to property data business Datscha, Qatari investors own 879 properties in London totalling nearly 26 million square feet.

Several Gulf countries have cut travel and embassy links with Qatar.

Source: http://www.standard.co.uk/business/qataris-tipped-for-london-property-spree-amid-crisis-a3558926.html

img

cnembhard

Related posts

Property News: The luxury market experiences record sales

LUXURY property sales across the world have not been dented by political and economic uncertainty...

Continue reading
by cnembhard

The Cheesegrater’s new owner wants to buy more “iconic” London skyscrapers

The Chinese property giant which bought the Cheesegrater tower, the tallest building in the City of...

Continue reading
by cnembhard

Deutsche Bank’s real estate fund has bought two buildings on London’s Southbank in a £310m deal

Deutsche Asset Management (AM) has snapped up two buildings on London's Southbank in a £310m deal...

Continue reading
by cnembhard

Join The Discussion