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.