EURO PROPERTY Middle Eastern-based analysts say that the ANDS Key deals included Qatar Investment + +
Authority shelling out around €500m to buy the 52-60 Avenue des Champs Elysées, Paris, a building anchored by a Virgin Megastore; Abu Dhabi Investment Authority (ADIA) buying the nearby five-star, 174-bedroom Marriott hotel for €215m; and St Martins Property, the real estate fund of the Kuwati government, entering into exclusive talks to buy Bank of America’s European headquarters at 5 Canada Square in London’s Docklands. And, as well as investing heavily in their traditional spheres of trophy buildings in London, Paris and Frankfurt, a number of Middle Eastern sovereign wealth funds purchased property in areas outside these areas. These included ADIA, which bought the 63,000 m2
city of Ghent for about €110m, and QIA, which purchased the 43,700 m2 office complex in Warsaw.
to Middle Eastern sovereign wealth funds,” says Sebastien Henin, frontier markets portfolio manager for The National Investor, an asset management company based in Abu Dhabi. “It’s not just property, it’s all assets. European stocks are still 60% of what they were in 2008. If you look at other markets such as North America, the markets are back up to their 2008 levels. Middle East sovereign wealth funds believe that they can still get good deals on prime European assets at the moment.” In France alone, Savills estimates, Middle
Zuidenport office park in the Belgian Miasteczko Orange
Eastern funds accounted for around 15% of real estate investment activity during 2012, revitalising the market for assets valued at more than €100m. There were 21 such deals done during the first nine months of 2011, which increased to 31 during the same period in 2012.
Ibrahimovic: QIA added Paris St Germain FC to its Paris portfolio
continuing eurozone crisis is fuelling a demand among sovereign wealth funds for trophy assets across the Continent at what is perceived to be knock-down prices. Other headline deals this year included QIA’s
purchase of Paris St Germain football club and its acquisition of a stake in UK airport operator BAA. “At the moment assets in Europe look cheap
Investment flows from t
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