Doha-based investment banking and asset management firm Amwal will launch a real estate investment fund in London, chief executive George Shehadeh told Zawya.
""The new fund with USD 170 million will invest in the London property market, as it is still very attractive for MENA investors," Shehadeh said, without specifying a time frame to launch the fund.
"The London real estate market remains largely unaffected by the global economic crisis, and we have seen ever-rising demand for real estate from various private investors, especially from the Gulf Cooperation Council," the CEO said. "The real estate market in London is one of the most important global markets for foreign investment."
Taha Abdel Ghani, general manager of NAMA for Economic Consulting Company, told Zawya: "Qatar has a diversity of investments in the United Kingdom, with the energy sector occupying the first place through the South Hook project, which provides about 20% of Britain's supply of natural gas. Next come the real estate and financial services sectors."
Qatari real estate investments in London are valued at around USD 32 billion, according to data released by the Trade and Investment Unit of the British foreign affairs ministry, Abdel Ghani said.