Qatar might be a tiny Gulf country
with a population of just 2.2 million,
but what it lacks in size it makes
up for in assets around the world.
Here in London, Qatar owns even more
property than the Queen of England.
In New York, Qatar’s investment arm bought nearly a
10% stake in the owners of the Empire State Building.
In Los Angeles, a Qatari media group purchased
Miramax studios last year for an undisclosed amount.
In Singapore, Qatar’s investment fund recently
purchased this tower for $2.5 billion.
And here in San Francisco,
the sovereign wealth fund plans
to open an office in an
effort to invest in Silicon Valley.
Qatar is located in the heart of the Middle East.
It’s the richest country per capita in the world.
So where does it get all its money?
Oil and gas, the cornerstones of Qatar’s economy.
Back in 2005, the Qatar investment authority was
set up to manage the state’s massive revenues,
specializing in domestic and foreign investment.
Today, the sovereign wealth fund has
more than $334 billion in assets,
making it the 11th largest fund in the world.
And it’s lucky they set up the fund.
Oil and gas aren’t bringing
in the revenue they used to.
And confidence in the fund allowed
the government to issue
$9 billion in bonds last May
to finance its budget deficit.
Qatar National Vision 2030 is an initiative taking
these overseas investments to the next level.
That’s why you can find so much Qatari
money overseas, particularly in London.
Qatar-based entities now own 34% of the top
15 most expensive skyscrapers in London.
By comparison, U.K. companies own just 21%.
Just take a look at London’s skyline.
In 2015, a Qatari-led group purchased
London’s Canary Wharf business complex,
adding to its assets here in the city, which include
the HSBC Tower and the Shard skyscraper.
In some of London’s poshest areas, you can even live,
work and shop in completely Qatari-owned properties.
In fact, this neighborhood is sometimes
referred to as Qatari Quarter,
with an estimated 25% of all
properties owned by Qatari investors.
Qatar even won approval to convert the old
U.S. embassy into a luxury hotel.
Qatar’s investments exceed
far beyond real estate though.
Qatar recently raised its stake in British
Airways-owner IAGSA to 20%.
And speaking of airlines and travel,
Qatar likes airports and not just in Doha.
It bought a 20% stake in London
Heathrow airport back in 2012,
and now, owns about a quarter stake
in St. Petersburg airport in Russia.
It’s fair to say Qatar’s investments are diversified.
It spans from travel, real estate,
luxury, sports, and tech.
Qatari investors bought
Italian luxury brand, Valentino.
Qatari sports investments bought
Paris Saint-Germain football club in 2011,
which later went on to win four
French soccer league titles.
Qatar has traditionally put
investments into Europe but lately,
it's decided to diversify into
North America and Asia.
In fact, it’s said it will spend $35 billion
in the U.S. by 2020.
From investing in Uber and expanding in Silicon
Valley, to investing in New York real estate,
including its 44% stake in a nearly $9 billion
redevelopment project in Manhattan.
And over in Asia, last year
Qatar’s investment fund
bought Singapore’s
Asia Square Tower 1 from BlackRock.
The $2.5 billion deal was the largest office
transaction in Singapore’s history.
And these investments really
just scratch the surface of
where the world’s richest country
per capita is putting its cash.
As Qatar diversifies its investments across
industries and continents,
the tiny country is showing little signs of slowing down
in its mission to buy some of the world’s biggest assets.
