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Thu 7 Apr 2011 04:44 PM

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Qatar to invest $35bn overseas, says Sheikh Hamad

Gas-rich Gulf emirate sees new deals in US commercial real estate, says Prime Minister

Qatar to invest $35bn overseas, says Sheikh Hamad
Qatars Prime Minister Sheikh Hamad bin Khalifa al-Thani. The emirate plans to spend $35bn in overseas deals in 2011

Qatar plans to boost investments overseas to as much as
$35bn this year from more than $20bn last year as the Persian Gulf country eyes
deals in US real estate, Prime Minister Sheikh Hamad Bin Jasim Bin Jaber Al
Thani told CNBC.

“We are looking for properties, commercial properties in the
US, because we think in some cities,” it’s the “right moment” to do that, Al
Thani said, according to a transcript of the CNBC interview posted yesterday.
“We are checking and discussing some deals in US.”

Qatari Diar, a real-estate developer owned by the Persian
Gulf country’s sovereign wealth fund, said April 4 it is an anchor investor in
Washington DC’s $700m CityCenterDC Development.

“Maybe now is the right time to talk with the banks, which
have a lot of these commercial properties which they want to get rid of, if
they want cash. Then sometimes we might find the right deal to do,” Sheikh
Hamad said.