Qatar’s major investments in Europe
“Europe is up for sale, and Qataris love a good sale,” said Manish Singh, head of investments at Crossbridge Capital in London. “Qatar has been buying a huge quantity of European assets in recent years as a hedge against its economy’s over-reliance on oil. This latest move with Dufry is a step further in that direction. For Singapore, it’s just a good business deal, as it’s a growth sector. There will be more deals.”
Qatar has spent at least $16.3 billion acquiring European assets in the past three years, while Singapore has disbursed $12.2 billion, according to data compiled by Bloomberg. More than a third of the deals by Singapore were announced in the last three quarters, indicating a quickening pace of activity. Qatar is diversifying outside of real estate and finance.
A weakening euro is making investment in the region more attractive. The European currency has slid 21 percent against the dollar in the past year.
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Source News: wgoqatar.com
