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FINANCIAL NEWS
Qatar to become global player in property investment
14 Jun 2010
(MENAFN) A report issued by leading real estate consultancy Jones Lang LaSalle said that Qatar is likely to emerge as the new powerhouse in global real estate capital flows this year, fuelled by the rapid growth in its oil and gas sectors, , Reuters reported.
With a relatively small domestic real estate market, much of this interest is being directed towards real estate markets overseas, making Qatar an increasingly important player in terms of global real estate capital flows, the report added.
After an adjustment period in 2009, Qatar-based institutions are back in the spotlight and the state is projected to rank as the number one global overseas real estate investor in 2010, it said.
It is noteworthy that Qatari Diar has acquired stakes in high-class hotels around the world (such as the Raffles Hotel in Singapore or the MAIA resort in Seychelles) and the First Investor is currently looking for opportunities in Russia and Brazil.
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Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
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