World
Qatari royal considering sale of $470 mln London homes
A Qatari sheikh, whose son is fronting a bid for Manchester United Football Club, is mulling the sale of two luxury houses in London’s most exclusive districts with a combined asking price of approximately $470 million.
Sheikh Hamad bin Jassim bin Jaber Al Thani is potentially planning to sell a triplex penthouse at the One Hyde Park project in London’s upscale Knightsbridge district for about $280 million, as well as a property he owns nearby at Belgrave Square for about $190 million, according to people familiar with the matter.
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Sheikh Hamad may decide against a sale if offers fall short of the asking price, the people said. Efforts to reach the royal for comment through his private investment firm Al Mirqab Capital and several family members were unsuccessful.
The man ‘who bought London’
The former head of the Qatar Investment Authority and an ex-prime minister of the emirate is one of the most high-profile investors in the Middle East and one of the key shareholders at German lender Deutsche Bank AG.
During his tenure at QIA, the sovereign wealth fund amassed stakes in some of the most prestigious European companies, including stakes in commodities trader Glencore Plc, British lender Barclays Plc and luxury department store Harrods.
A friend of King Charles, Sheikh Hamad was once dubbed the “man who bought London” by the British media after overseeing such a dramatic expansion of Qatari interests in the UK capital since the turn of the millennium.
The potential sale of some of Sheikh Hamad’s luxury London portfolio comes after the billionaire bought and refurbished the six-story Forbes House, which sits a few minutes’ walk from Buckingham Palace.
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