Qataris now own M&S shops as well as Harrods

Unnamed Qatari investors have acquired five Marks & Spencer shops in the UK that are valued at more than £50 million ($66 million).

The deal was arranged by Rosette, a London-based sharia-compliant merchant bank, which says the transaction is the Qatari investors’ first UK acquisition.

“The relative weakness of the pound continues to add to the attractiveness of the UK commercial property market which is still considered to be one of the most liquid, well-regulated and transparent markets in the world,” said Amr Kenawy, chief business officer at the bank.

Buyers from Qatar have famously invested in the UK retail sector before, with state-owned Qatar Holding acquiring luxury department store Harrods in 2010, reportedly for £1.5 billion.

The five properties in the portfolio are leased to Marks and Spencer until March 2027.

©2017 funds global mena

Related Articles