Reports emerged over the weekend that a private Qatari investor had bought the famous The Ritz London for between £750M and £800M.
The deal confirms something that has been clear over the past decade or more: Qatar loves London.
Qatari investors, from the national sovereign wealth fund to members of the royal family to small companies backed by wealthy investors, have spent a combined £10B on London real estate since 2007, according to data from Real Capital Analytics.
When the Ritz deal is added in, as well the cost of developing projects that Qatari companies are building, that sum rises to more than £17B, according to Bisnow research, an eye-watering sum for a country with just 2.6 million inhabitants.
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The Arab states of the Persian Gulf are the seven Arab states which border the Persian Gulf, namely Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE).This excludes the non-Arab state of Iran. All of these nations except Iraq are part of the Gulf Cooperation Council (GCC).