Qatar to Spend $35B in the US over Next Five Years
Japan made a comeback. Now it's Qatar's turn to play. The Middle Eastern country just announced plans to invest $35B in the US over the next five years, Qatar's Investment Authority (managed by Sheikh Abdullah bin Mohammed bin Saud Al Thani, shown) said Monday, revealing plans to target various sectors of the US economy.
QIA recently opened a New York office to get better access to investment partners. Qatar's gotten its feet wet in New York in recent years, picking up four apartments for $45M and is currently in talks with Vornado Realty Trust to finance the REIT's 220 Central Park South condo tower.
Qatar's been an international player for a while, owning stakes in Barclays, Glencore and London's Heathrow Airport. It also led a group of investors that bought London’s Canary Wharf financial district for $3.94B in January.
"With boots on the ground, our presence in New York will anchor our interest in the region," fund CEO Sheikh Abdulla bin Mohammed bin Saud Al Thani says. [NYT]
