Gulf state’s investment arm adds latest acquisition of Claridge’s to portfolio already boasting landmarks from The Shard to Canary Wharf
- Qatar’s Constellation Hotels bought majority share in company behind Claridge’s, The Berkeley and The Connaught
- Five-star hotels latest in impressive list of high-profile acquisitions, including The Shard, Harrods and Canary Wharf
- Gulf state’s royal family also planning their own British palace – converting three properties into a £200m mansion
Qatar’s grip on London’s real estate tightened this week when it agreed to buy a majority share in the company behind the iconic Claridge’s hotel.
The Gulf state’s Constellation Hotels bought the 64 per cent stake in hotel company Coroin – which owns five-star offerings Claridge’s, The Berkeley and The Connaught – from billionaire brothers Sir David and Sir Frederick Barclay.
It is not known how much the deal is worth, but some have reported it could be as much as £1.6billion.
The hotels are the latest in an impressive list of high-profile acquisitions for the country, whose investment arm has been snapping up a number of the city’s landmark buildings including The Shard, Harrods and One Canada Tower – the centrepiece of the Canary Wharf financial district.
Constellation also recently bought London Park Lane Hotel, and owns Le Grand hotel in Paris.
Qatar’s royal family, which owns more of London than the Crown Estate, is also planning their own British palace in the capital.
Last December, the rulers submitted plans to convert three prime properties in London’s Regent’s Park into a huge mansion, set to become the UK’s first £200million home.
The country also hold stakes in flagship British companies including Barclays Bank, Sainsbury’s and British Airways owner IAG.
Portfolio: Qatar’s investment arm has been snapping up a number of the city’s landmark buildings, illustrated on the map of London above
Landmark: Qatar Holding bought luxury department store Harrods from businessman Mohamed Al Fayed for a reported £1.4billion in 2010
Deal: Qatari Diar, the state’s investment arm, teamed up with UK property developer Delancey Estates to buy the athletes’ village for £557m
Five-star: The luxury Connaught Hotel in Mayfair, pictured, is owned by hotel company Coroin, in which Qatar now holds a majority stake
Trophy asset: In January, Qatar bought the 97-acre financial district Canary Wharf, seen in background, with a Canadian partner for £2.6 billion
Investment: Qatar Holding, which also has shares in Barclays and Sainsbury’s, owns a 10 per cent stake in the London Stock Exchange, above
Plans to develop: Qatari Diar Real Estate Investment bought the US Embassy building in Grosvenor Square, Mayfair, pictured, in 2009
Luxury: The Qatari royal family bought 1, 2, and 3 Cornwall Terrace (pictured) in 2013 and is converting the three into a £200million palace
Exclusive: Qatar’s prime minister owns 50 per cent of One Hyde Park, pictured, through his property development company Waterknights
High-end: The Berkeley Hotel, in London’s upmarket Knightsbridge, pictured, was added to Qatar’s impressive property portfolio this week
Residential development: Qatari Diar bought the site of the Chelsea Barracks, pictured, from the Ministry of Defence for nearly £1bn in 2007
Source: Daily Mail