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The Qatar Investment Authority (QIA; ar, جهاز قطر للإستثمار) is
Qatar Qatar (, ; ar, قطر, Qaṭar ; local vernacular pronunciation: ), officially the State of Qatar,) is a country in Western Asia. It occupies the Qatar Peninsula on the northeastern coast of the Arabian Peninsula in the Middle East; it sh ...
's
sovereign wealth fund A sovereign wealth fund (SWF), sovereign investment fund, or social wealth fund is a state-owned investment fund that invests in real and financial assets such as stocks, bonds, real estate, precious metals, or in alternative investments such ...
. The QIA was founded by the State of Qatar in 2005 to strengthen the country's economy by diversifying into new asset classes. In 2021, the QIA had an estimated $450 billion of assets. The QIA's structure and decision-making procedures have been characterized as non-transparent. Spending decisions regarding the fund have been linked to the emir and the prime minister (regardless of whether they sit on the board of the fund). On September 2017, the Research gate (blog post of Berlin) provided data about the functioning behind the Qatar Investment Authority’s investments and it was found out that QIA's participation in global capitalism as a fully state-owned business is a compelling and little-examined facet of the organization. By examining fine-grained ownership data, CORPNET can monitor these activities on a worldwide scale. Beyond Sovereign Wealth Funds, any state-owned organization worldwide can be included in this research of cross-border state ownership networks. The data also showcased that there were no noteworthy high-profile transactions when looking at the Qatari state investment outside of the QIA activities; instead, smaller acquisitions with higher, majority, or full ownership targets were discovered. This demonstrates the notion that Qatar's absorption into global capitalism is symbolized by the QIA. The acquisition of PSG, the strong focus on the UK and other European countries as investment targets indicate that the QIA is eager to establish the Qatari state as an important actor in global finance.


History and profile

The QIA was founded in 2005 by the then-
emir of Qatar The Emir, or Amir, of the State of Qatar ( ar, أمیر دولة قطر) is the monarch and head of state of the country. He is also the commander-in-chief of the Armed Forces and guarantor of the Constitution. He holds the most powerful positio ...
,
Hamad bin Khalifa Al Thani Sheikh Hamad bin Khalifa bin Hamad bin Abdullah bin Jassim bin Mohammed Al Thani ( ar, حمد بن خليفة الثاني; born 1 January 1952) is a member of the ruling Al Thani Qatari royal family. He was the ruling Emir of Qatar from 1995 ...
, to manage the
oil An oil is any nonpolar chemical substance that is composed primarily of hydrocarbons and is hydrophobic (does not mix with water) & lipophilic (mixes with other oils). Oils are usually flammable and surface active. Most oils are unsaturated ...
and
natural gas Natural gas (also called fossil gas or simply gas) is a naturally occurring mixture of gaseous hydrocarbons consisting primarily of methane in addition to various smaller amounts of other higher alkanes. Low levels of trace gases like carbo ...
surpluses of the
government of Qatar The political system of Qatar is a semi-constitutional monarchy with the emir as head of state and chief executive, and the prime minister as the head of government. Under the Constitution of Qatar, the partially-elected Consultative Assembly has ...
. As a result of its stated strategy to minimize risk from Qatar's reliance on energy prices, the fund predominantly invests in international markets (United States, Europe and Asia-Pacific) and within Qatar outside the energy sector. Prior to establishment of the QIA in 2005, Qatar's Ministry of Finance had a small in-house team to invest revenue from budget surpluses. The
Qatar National Vision 2030 Qatar National Vision 2030 ( ar, رؤية قطر الوطنية 2030; abbreviated as QNV 2030) is a development plan launched in October 2008 by the General Secretariat for Development Planning in the Qatar, State of Qatar. The aim of QNV 2030 is t ...
foresees the shift from natural gas based revenue to QIA-type investments between now and then. The QIA wholly controls
Qatari Diar The Qatar Investment Authority (QIA; ar, جهاز قطر للإستثمار) is Qatar's sovereign wealth fund. The QIA was founded by the State of Qatar in 2005 to strengthen the country's economy by diversifying into new asset classes. In 2021 ...
, a property investment company. The QIA does not publish its holdings to the market. In June 2013, after the new emir's arrival to power, and a general reshuffle of Qatar's main organizations, Ahmad Al Sayed was appointed as QIA's chairman and
chief executive officer A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...
, replacing Hamad bin Jassim Al Thani in the post while also remaining Managing Director and CEO of QIA's main subsidiary, Qatar Holding. Sayed held the post for 16 months. In January 2015, Sheikh
Abdullah bin Mohammed bin Saud Al Thani H.E. Ambassador Sheikh Abdulla bin Mohammed bin Saud Al Thani (Arabic: عبد الله بن محمد بن سعود آل ثاني) is the Qatari Ambassador to Germany, appointed in August 2020. He has been a Minister of State and former Chairman ...
, chairman of Qatari telecommunications company
Ooredoo Ooredoo QSC ( ar, أريد; formerly ''Qtel'') is a Qatari multinational telecommunications company headquartered in Doha. Ooredoo provides mobile, wireless, wire line, and content services with market share in domestic and international telec ...
, was appointed as CEO and served until 2018. , Mansoor Bin Ebrahim Al-Mahmoud is the CEO of the company. The fund is a member of the
International Forum of Sovereign Wealth Funds The International Forum of Sovereign Wealth Funds (IFSWF) is a nonprofit international group of sovereign wealth funds managers which was established in 2009. It is based in London, England. History In 2009, a group of 23 leading state-owned in ...
. Qatar Investment Authority has more than half of its assets invested in private equity and listed shares as it chases higher returns for 2021.


Subsidiaries

Qatar Investment Authority owns 100% of Qatar Holding LLC, and it is associated with
Qatar National Bank Qatar National Bank (QNB Group) ( ar, بنك قطر الوطني) is a Qatari multinational commercial bank headquartered in Doha, Qatar. It was founded in 1964 and currently has subsidiaries and associates in 31 countries spanning three contine ...
(50%). QIA is affiliated with
Qatar Islamic Bank Qatar Islamic Bank (المصرف Q.P.S.C) was established in 1982 as the first Islamic financial institution in Qatar. Its products and operations are supervised by a Shari’a board, which ensures that the Bank adheres to Islamic banking and fi ...
(16.67%) and with Ubac Curaçao NV (1.35%). QIA is also affiliated with
Qatar Sports Investments Qatar Sports Investments (QSi) is a closed shareholding organization founded in 2005 and based in Doha, Qatar. Revenues generated from ventures of QSi are reinvested into Qatar's sport, leisure and entertainment sectors. QSi is led by Chairman Nas ...
(QSi).


Investments

In January 2013, one writer pegged the QIA investment in Britain at €30 billion, France at €10 billion and Germany at €5 billion, while another reported that the total assets under management in June 2013 was on the order of $100 billion. Qatar Holding's stake in
Barclays Barclays () is a British multinational universal bank, headquartered in London, England. Barclays operates as two divisions, Barclays UK and Barclays International, supported by a service company, Barclays Execution Services. Barclays traces ...
rose to 12.7% following Barclays' capital raising in October 2008. Qatar Investment Authority holds a small stake in
Fisker Automotive Fisker Automotive was an American company known for producing the Fisker Karma, which was one of the world's first production luxury plug-in hybrid electric vehicles. It debuted at the 2008 North American International Auto Show, and first de ...
. It also holds about 17% stake in the
Volkswagen Group Volkswagen AG (), known internationally as the Volkswagen Group, is a German multinational automotive manufacturer headquartered in Wolfsburg, Lower Saxony, Germany. The company designs, manufactures and distributes passenger and commercial ...
,
Porsche Dr. Ing. h.c. F. Porsche AG, usually shortened to Porsche (; see #Pronunciation, below), is a German automobile manufacturer specializing in high-performance sports cars, SUVs and sedans, headquartered in Stuttgart, Baden-Württemberg, Germany ...
,
Hochtief Hochtief AG is a German construction company based in Essen, North Rhine-Westphalia, Germany.Sainsbury's J Sainsbury plc, trading as Sainsbury's, is the second largest chain of supermarkets in the United Kingdom, with a 14.6% share of UK supermarket sales. Founded in 1869 by John James Sainsbury with a shop in Drury Lane, London, the company wa ...
. The French government has made of Qatar a strategic partner, and the list of partnerships between the two states includes
Lagardère Lagardère may refer to: * Lagardère Group, a French media group * Jean-Luc Lagardère (1928–2003), French engineer and businessman and CEO of the Lagardère Group * Arnaud Lagardère (born 1961), French businessman and son of Jean-Luc Lagardèr ...
(12%)
Total Total may refer to: Mathematics * Total, the summation of a set of numbers * Total order, a partial order without incomparable pairs * Total relation, which may also mean ** connected relation (a binary relation in which any two elements are comp ...
(4%),
EADS Airbus SE (; ; ; ) is a European multinational aerospace corporation. Airbus designs, manufactures and sells civil and military aerospace products worldwide and manufactures aircraft throughout the world. The company has three divisions: '' ...
(6%),
Technip Technip S.A. was a company that carried out project management, engineering and construction for the energy industry; in 2017 it completed a merger with FMC Technologies to form TechnipFMC. Its headquarters were in the 16th arrondissement of Pa ...
,
Air Liquide Air Liquide S.A. (; ; literally "liquid air"), is a French multinational company which supplies industrial gases and services to various industries including medical, chemical and electronic manufacturers. Founded in 1902, after Linde it is ...
,
Vinci SA Vinci (corporately styled VINCI) is a French concessions and construction company founded in 1899 as Société Générale d'Enterprises. Its head office is in Nanterre, in the western suburbs of Paris. Vinci is listed on Euronext's Paris stock ...
(5%),
GDF Suez Engie SA is a French multinational utility company, headquartered in La Défense, Courbevoie, which operates in the fields of energy transition, electricity generation and distribution, natural gas, nuclear, renewable energy and petroleum. ...
,
Veolia Veolia Environnement S.A., branded as Veolia, is a French transnational company with activities in three main service and utility areas traditionally managed by public authorities – water management, waste management and energy services. It pr ...
(5%),
Vivendi Vivendi SE is a French mass media holding company headquartered in Paris. Widely known as the owner of Gameloft, Groupe Canal+, Havas, Editis, Prisma Media, Vivendi Village and Dailymotion, the company has activities in television, film, video ...
, Royal Monceau,
France Telecom Orange S.A. (), formerly France Télécom S.A. (stylized as france telecom) is a French multinational telecommunications corporation. It has 266 million customers worldwide and employs 89,000 people in France, and 59,000 elsewhere. In 2015, ...
and
Areva Areva S.A. is a French multinational group specializing in nuclear power headquartered in Courbevoie, France. Before its 2016 corporate restructuring, Areva was majority-owned by the French state through the French Alternative Energies and Atom ...
. In February 2009, France accorded special beyond-
OECD The Organisation for Economic Co-operation and Development (OECD; french: Organisation de coopération et de développement économiques, ''OCDE'') is an intergovernmental organisation with 38 member countries, founded in 1961 to stimulate e ...
investment privileges to Qatar and its
state-owned enterprises A state-owned enterprise (SOE) is a government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn profit for the governmen ...
; one example is
capital gain Capital gain is an economic concept defined as the profit earned on the sale of an asset which has increased in value over the holding period. An asset may include tangible property, a car, a business, or intangible property such as shares. ...
s exemptions in France. The QIA is also reported to hold part of
Xstrata Xstrata plc was an Anglo-Swiss multinational mining company headquartered in Zug, Switzerland and with its registered office in London, United Kingdom. It was a major producer of coal (and the world's largest exporter of thermal coal), copper, ...
. On 8 May 2010, Qatar Holding, an indirect subsidiary of QIA, purchased the Harrods Group from
Mohamed Al-Fayed Mohamed Al-Fayed (; arz, محمد الفايد ; born 27 January 1929) is an Egyptian-born businessman whose residence and chief business interests have been in the United Kingdom since the late 1960s. His business interests include ownership of ...
, including the
Knightsbridge Knightsbridge is a residential and retail district in central London, south of Hyde Park, London, Hyde Park. It is identified in the London Plan as one of two international retail centres in London, alongside the West End of London, West End. ...
department store. QIA are also the largest shareholder in
Sainsbury's J Sainsbury plc, trading as Sainsbury's, is the second largest chain of supermarkets in the United Kingdom, with a 14.6% share of UK supermarket sales. Founded in 1869 by John James Sainsbury with a shop in Drury Lane, London, the company wa ...
. On 3 December 2010, Qatar Investment Authority, along with
Colony Capital DigitalBridge Group, Inc. is a global digital infrastructure investment firm. The company owns, invests in and operates businesses such as cell towers, data centers, fiber, small cells, and edge infrastructure. Headquartered in Boca Raton, Digita ...
and
Tutor-Saliba Corporation Tutor Perini Corporation (formerly Perini Corporation) is one of the largest general contractors in the United States. At the end of 2013, it reported annual revenue of approximately $4.2 billion. Tutor Perini is headquartered in Sylmar, Calif ...
, was part of an investment group known as
Filmyard Holdings Filmyard Holdings was an American pure holding company and is the former parent company of Miramax. Colony Capital and Qatar Investment Authority own the studio. Rob Lowe is an investor in Colony's entertainment fund. On December 3, 2010, Disne ...
, which purchased
Miramax Miramax, LLC, also known as Miramax Films, is an American film and television production and distribution company founded on December 19, 1979, by brothers Harvey and Bob Weinstein, and based in Los Angeles, California. It was initially a leadi ...
from
Disney The Walt Disney Company, commonly known as Disney (), is an American multinational mass media and entertainment conglomerate headquartered at the Walt Disney Studios complex in Burbank, California. Disney was originally founded on October ...
. In February 2012, it completed the acquisition of
Credit Suisse Credit Suisse Group AG is a global investment bank and financial services firm founded and based in Switzerland. Headquartered in Zürich, it maintains offices in all major financial centers around the world and is one of the nine global " ...
's headquarters in London. QIA holds a 6% stake in Credit Suisse and owns shares in Apeldoorn, the majority owner of
Canary Wharf Group Canary Wharf Group plc is a British property company headquartered in London, England. It is the owner and developer of nearly of property at Canary Wharf and elsewhere in London. Over the last 10 years it has constructed more office space in L ...
. Qatari Diar, a property arm of the fund, along with Canary Wharf, won a £300mn deal to redevelop the Shell Centre in London, the former London headquarters of
Royal Dutch Shell Shell plc is a British multinational oil and gas company headquartered in London, England. Shell is a public limited company with a primary listing on the London Stock Exchange (LSE) and secondary listings on Euronext Amsterdam and the New Yo ...
. The French government has offered tax exemptions for Qatari real estate investments in the country and have acquired almost $4 billion of property. In May 2012, it acquired a stake below 3% in
Royal Dutch Shell Shell plc is a British multinational oil and gas company headquartered in London, England. Shell is a public limited company with a primary listing on the London Stock Exchange (LSE) and secondary listings on Euronext Amsterdam and the New Yo ...
. It has announced a plan to raise its stake to 7%. In late 2012 Qatar Sports Investments (QSI) completed a buyout of the French football club
Paris Saint-Germain F.C. Paris Saint-Germain Football Club (), commonly referred to as Paris Saint-Germain, Paris, Paris SG or simply PSG is a professional football club based in Paris, France. They compete in Ligue 1, the top division of French football. As Fr ...
(P.S.G.), which valued the club at $130 million. QSI invested a further $340 million in the club, they had bought the
Paris Saint-Germain Handball Paris Saint-Germain Handball (PSG) is a French professional handball club founded in 1941, and based in the city of Paris in France. The club is the handball department of Paris Saint-Germain. PSG play in the highest tier of French handbal ...
team the previous year. The Qatari president of P.S.G.,
Nasser Al-Khelaifi Nasser bin Ghanim Al-Khelaifi ( ar, ناصر بن غانم الخليفي; born 12 November 1973) is a Qatari businessman and the chairman of beIN Media Group, chairman of Qatar Sports Investments, president of Paris Saint-Germain and the Qatar ...
is also the director of Qatari owned television network
Al Jazeera Sports beIN Sports MENA ( ar, بي إن سبورتس العربية) is a subsidiary of beIN Sports. It is based in Doha, Qatar, serving the Middle East and North Africa (MENA) region. They are owned by beIN Media Group, a former subsidiary of Al Jaze ...
, which launched French television channels
beIN Sport beIN Sports ( ) is a global network of sports channels owned and operated by the Qatari media group beIN. It has played a major role in the increased commercialization of Qatari sports. Its chairman is Nasser Al-Khelaifi, and its CEO is Yousef O ...
. Qatar has also offered to finance social programs in French suburbs, which has attracted criticism. In November 2012, QIA and
Cassa Depositi e Prestiti Cassa Depositi e Prestiti S.p.A. (also kwown as CDP or CDP Group) is a prominent Italian investment bank founded on November 20, 1850, in Turin. Its main duty was to finance public works like roads and waterworks during the reign of Victor Emman ...
signed the starting agreement of IQ Made in Italy Venture, a four-year cooperation to promote
Made in Italy Made in Italy is a merchandise mark indicating that a product is all planned, manufactured and packed in Italy, especially concerning the design, fashion, food, manufacturing, craftsmanship, and engineering industries. History Made in Italy ...
in Qatar's Arabic partners and to push them to invest in Italian economic sectors like fashion, luxury, design, food, tourism, lifestyle & leisure, and
defence Defense or defence may refer to: Tactical, martial, and political acts or groups * Defense (military), forces primarily intended for warfare * Civil defense, the organizing of civilians to deal with emergencies or enemy attacks * Defense industr ...
. In January 2013, Qatar Holding, an indirect subsidiary of QIA, said it would invest $5 billion into petrochemical projects in
Malaysia Malaysia ( ; ) is a country in Southeast Asia. The federation, federal constitutional monarchy consists of States and federal territories of Malaysia, thirteen states and three federal territories, separated by the South China Sea into two r ...
in three to four years. The investment was said to help Malaysia compete with neighbouring
Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, borde ...
to become the region's top petrochemical hub. The QIA was planning to invest $200 million in residential property in
India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...
through Kotak Realty Fund in late December 2013. In August 2018, Qatar Investment Authority signed Memorandum of Understanding (MoU) to invest up to $500mn in tourism in
Indonesia Indonesia, officially the Republic of Indonesia, is a country in Southeast Asia and Oceania between the Indian and Pacific oceans. It consists of over 17,000 islands, including Sumatra, Java, Sulawesi, and parts of Borneo and New Guine ...
. In October 2014 Qatar Investment Authority signed an agreement with
CITIC Group CITIC Group Corporation Ltd., formerly the China International Trust Investment Corporation (CITIC), is a state-owned investment company of the People's Republic of China, established by Rong Yiren in 1979 with the approval of Deng Xiaoping. ...
Corp to launch a $10 billion fund to invest in
China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...
The QIA announced its intention to invest $35b in the US during the next five years, starting in September 2015. Via Mannai Corporation, it is currently in a process of acquiring the French computer science group GFI. In 2021, QIA with its subsidiary unit - Locus Engineering Management and Services Co. W.L.L. is investing in a sub-Saharan African renewable energy platform being led by Enel Green Power. During the 2021 St Petersburg Economic Forum, Sheikh
Tamim bin Hamad Al Thani Sheikh Tamim bin Hamad Al Thani ( ar, تميم بن حمد بن خليفة آل ثاني; born 3 June 1980, Doha, Qatar) is the Emir of Qatar who succeeded his father, Sheikh Hamad, after Hamad abdicated in his favour. Tamim is the fourth son ...
highlighted
Qatar Qatar (, ; ar, قطر, Qaṭar ; local vernacular pronunciation: ), officially the State of Qatar,) is a country in Western Asia. It occupies the Qatar Peninsula on the northeastern coast of the Arabian Peninsula in the Middle East; it sh ...
's solid historic relations with
Russia Russia (, , ), or the Russian Federation, is a List of transcontinental countries, transcontinental country spanning Eastern Europe and North Asia, Northern Asia. It is the List of countries and dependencies by area, largest country in the ...
and announced that his country will increase investments in the Russian Federation. He also called on
Russia Russia (, , ), or the Russian Federation, is a List of transcontinental countries, transcontinental country spanning Eastern Europe and North Asia, Northern Asia. It is the List of countries and dependencies by area, largest country in the ...
's private sector and the world to explore
Qatar Qatar (, ; ar, قطر, Qaṭar ; local vernacular pronunciation: ), officially the State of Qatar,) is a country in Western Asia. It occupies the Qatar Peninsula on the northeastern coast of the Arabian Peninsula in the Middle East; it sh ...
's promising business environment in many projects and several spheres. In March 2021, QIA became a minority investor in
Coveo Coveo is a software-as-a-service (SaaS) search engine, powered by artificial intelligence based in Quebec, Canada. The Coveo Relevance Cloud offers ecommerce, customer service, digital workforce, and website search. History Coveo Solutions Inc. ...
, the cloud-based search, recommendations, and personalization company.


Qatari Diar

Qatari Diar is a
real estate Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more general ...
company established by the Qatar Investment Authority in 2005 with headquarters in
Doha Doha ( ar, الدوحة, ad-Dawḥa or ''ad-Dōḥa'') is the capital city and main financial hub of Qatar. Located on the Persian Gulf coast in the east of the country, north of Al Wakrah and south of Al Khor, it is home to most of the coun ...
. By 2011 the company had stakes in
Vinci SA Vinci (corporately styled VINCI) is a French concessions and construction company founded in 1899 as Société Générale d'Enterprises. Its head office is in Nanterre, in the western suburbs of Paris. Vinci is listed on Euronext's Paris stock ...
, a firm employing 183,000 in 100 countries; in the utility
Suez Environnement Suez SA (formerly Suez Environnement) is a French-based utility company which operates largely in the water and waste management sectors. The company has its head office in La Défense, Paris.Veolia Environnement Veolia Environnement S.A., branded as Veolia, is a French Multinational corporation, transnational company with activities in three main service and utility areas traditionally managed by public authorities – water resource management, water m ...
(4.6%, sold in 2018). That same year Qatari Diar bought the Port Tarraco Marina in Tarragona, Spain. Early in 2012 the company had 49 projects in the planning or development stage in Qatar and in 29 countries around the world. The company owns
The Shard The Shard, also referred to as the Shard of Glass, Shard London Bridge, and formerly London Bridge Tower, is a 72-storey skyscraper, designed by the Italian architect Renzo Piano, in Southwark, London, that forms part of The Shard Quarter dev ...
, a skyscraper in London designed by
Renzo Piano Renzo Piano (; born 14 September 1937) is an Italian architect. His notable buildings include the Centre Georges Pompidou in Paris (with Richard Rogers, 1977), The Shard in London (2012), the Whitney Museum of American Art in New York City (20 ...
and the publicly funded Olympic village also known as
East Village, London East Village is a housing development in Stratford, East London that was designed and constructed as the Olympic Village of the 2012 Summer Olympics and has been converted for use as a new residential district, complete with independent shop ...
; and the former Royal Dutch Shell plc headquarters. In January 2013 it became known that the company had put on hold a redevelopment project of
Chelsea Barracks Chelsea Barracks was a British Army barracks located in the City of Westminster, London, between the districts of Belgravia, Chelsea and Pimlico on Chelsea Bridge Road. The barracks closed in the late 2000s, and the site is currently being red ...
worth around GBP 3 billion. During the same month Qatari Diar pulled out of the bidding for the development of the site of Athens' former international airport
Ellinikon Elliniko ( el, Ελληνικό, meaning "Greek") is a coastal suburb of Athens, Greece. Since the 2011 local government reform, it is part of the municipality Elliniko-Argyroupoli, of which it is a municipal unit. Elliniko is known for the Helli ...
. Mayor
Vincent C. Gray Vincent Condol Gray (born November 8, 1942) is an American politician who served as the mayor of the District of Columbia from 2011 to 2015. He served for one term, losing his bid for reelection in the Democratic primary to D.C. Council member ...
(District of Columbia) announced in early 2013 that he will travel to Qatar to promote the flow of global capital to the district. Qatari Diar is said to back
CityCenterDC CityCenterDC is a mixed-use development consisting of two condominium buildings, two rental apartment buildings, two office buildings, a luxury hotel, and public park in downtown Washington, D.C. It encompasses and covers more than five city blo ...
with around US$700 million. Representatives of Qatari Diar attended an investment conference hosted by the Peruvian Foreign Investment Authority.


Recent developments


Property Investments in London

Canary Wharf Group Investment Holdings, which is majority owned by Qatar Holdings, is London's largest property owner, with almost 21.5m sq ft of space on its books, according to data from the research firm Datscha. In addition to its investments with
Canary Wharf Canary Wharf is an area of London, England, located near the Isle of Dogs in the London Borough of Tower Hamlets. Canary Wharf is defined by the Greater London Authority as being part of London's central business district, alongside Central Lo ...
, Qatar Investment Authority owns the site of the
Chelsea Barracks Chelsea Barracks was a British Army barracks located in the City of Westminster, London, between the districts of Belgravia, Chelsea and Pimlico on Chelsea Bridge Road. The barracks closed in the late 2000s, and the site is currently being red ...
, the
Olympic Village An Olympic Village is an accommodation center built for the Olympic Games, usually within an Olympic Park or elsewhere in a host city. Olympic Villages are built to house all participating athletes, as well as officials and athletic trainers. Afte ...
and
The Shard The Shard, also referred to as the Shard of Glass, Shard London Bridge, and formerly London Bridge Tower, is a 72-storey skyscraper, designed by the Italian architect Renzo Piano, in Southwark, London, that forms part of The Shard Quarter dev ...
.


Heathrow Airport

Qatar Investment Authority is a major shareholder in
Heathrow Airport Heathrow Airport (), called ''London Airport'' until 1966 and now known as London Heathrow , is a major international airport in London, England. It is the largest of the six international airports in the London airport system (the others be ...
, holding 20 percent of the airport. In 2017, the company invested a further 650 million pounds ($807 million).


Islamabad Airport

QIA will be taking over Islamabad Airport in Pakistan.


Volkswagen

Bloomberg estimated that in September 2015 Qatar Investment Authority lost $5.9 billion on paper from its stakes in
Volkswagen Volkswagen (),English: , . abbreviated as VW (), is a German Automotive industry, motor vehicle manufacturer headquartered in Wolfsburg, Lower Saxony, Germany. Founded in 1937 by the German Labour Front under the Nazi Party and revived into a ...
and
Glencore Glencore plc is a Swiss multinational commodity trading and mining company with headquarters in Baar, Switzerland. Glencore's oil and gas head office is in London and its registered office is in Saint Helier, Jersey. The current company was c ...
after the carmaker admitted to using an illegal software to cheat on emissions tests in the U.S. By holding 17% of Volkswagen's ordinary stock and 13% of preferred shares, Qatar's sovereign-wealth fund is the third largest investor shareholder in the firm. QIA is also the largest investor in Glencore (8.2%), a mining company.


Barclays

Since 2008 dealings between Qatar Holding LLC and Barclays were investigated by the Serious Fraud Office (SFO) for suspicious cash-raising practices during the global financial crisis. Allegedly, Barclays received €7.5 billion ($8.2 billion) cash injection from QIA's subsidiary but did not inform its shareholders. Barclays was charged with failing to act with integrity and breaching disclosure rules for UK listed companies. Moreover, in 2011 both the Serious Fraud Office and the Financial Conduct Authority (FCA) investigated Barclays' €2.4 billion ($2.7 billion) secret transaction with a Politically Exposed Person (PEP) from Qatar whose identity remains protected by the financial giant and FCA. In that case, Barclays failed to conduct "due skill, care, and diligence" at the base of Britain's anti-money laundering rules. As a result, the UK financial watchdog meted out a record €92 million ($104 million) penalty against the financial giant.


Upsurge of Qatari investments in New York and D.C.

In early 2015, the QIA announced its intent to "invest $35 billion in the U.S. over the next five years" in various sectors of the economy. Sheikh Abdullah bin Mohammed bin Saud Al Thani, chief executive of QIA, told U.S. officials in December 2016 that it plans to invest $10 billion in infrastructure projects inside the U.S., although he specified no time frame. It is unclear whether this amount is intended to be part of the previously mentioned $35 billion, or if it is a new initiative.


New York

QIA has purchased $3.78 billion in Manhattan properties since 2014, including 111 West 33rd Street, 501 Seventh Avenue and 250 West 57th Street. QIA owns a 44% stake in its partnership with
Brookfield Property Partners Brookfield Property Partners L.P. is a global commercial real estate firm that is a publicly traded limited partnership and a subsidiary of Brookfield Asset Management, an alternative asset management company. Its portfolio includes properties ...
on a new mixed-use development delivering in 2019 that will include five separate buildings. In August 2018, Brookfield signed a 99-year lease on
Jared Kushner Jared Corey Kushner (born January 10, 1981) is an American businessman and investor. He served as a senior advisor to 45th U.S. president Donald Trump, his father-in-law. Since leaving the White House, Kushner founded Affinity Partners, a pri ...
's financially troubled
666 Fifth Avenue 660 Fifth Avenue (formerly 666 Fifth Avenue and the Tishman Building) is a 41-story office building on the west side of Fifth Avenue between 52nd and 53rd Streets in the Midtown Manhattan neighborhood of New York City. The office tower was ...
skyscraper. The deal raised suspicions that the Qatar Investment Authority, a major investor in Brookfield, was attempting to influence the
Trump administration Donald Trump's tenure as the List of presidents of the United States, 45th president of the United States began with Inauguration of Donald Trump, his inauguration on January 20, 2017, and ended on January 20, 2021. Trump, a Republican Party ...
. In April 2015, the Permanent Mission of the State of Qatar purchased four apartment units for roughly $45 million at a development within the United Nations Plaza. In January 2014, the Qatari government bought a 20,500-square-foot townhouse for $100 million in Manhattan's
Upper East Side The Upper East Side, sometimes abbreviated UES, is a neighborhood in the borough of Manhattan in New York City, bounded by 96th Street to the north, the East River to the east, 59th Street to the south, and Central Park/Fifth Avenue to the wes ...
, to be redeveloped into its consulate. From 2012-2013, Qatar's prime minister at the time, Sheikh Hamad bin Jassim bin Jaber Al Thani, purchased $285 million in apartments in Manhattan.


Washington, D.C.

QIA was one of the major financiers of a recent development known as CityCenterDC, as it invested $650 million into the project.


Controversies


Sunday Telegraph's campaign

In October 2007 the British newspaper ''
Sunday Telegraph ''The Sunday Telegraph'' is a British broadsheet newspaper, founded in February 1961 and published by the Telegraph Media Group, a division of Press Holdings. It is the sister paper of ''The Daily Telegraph ''The Daily Telegraph'', kn ...
'' launched a two-month long campaign, called "Stop the Funding of Terrorism", to stress Qatar's persistent negligence in countering terrorist finance and actively supporting terrorist entities and enterprises in the Middle East. ''The Telegraph''s campaign included 34 articles published between 20 September and 16 November 2014, some of which accused Qatar of funding the
Islamic State of Iraq and the Levant An Islamic state is a State (polity), state that has a form of government based on sharia, Islamic law (sharia). As a term, it has been used to describe various historical Polity, polities and theories of governance in the Islamic world. As a t ...
(ISIL). In November 2017, The Telegraph disclosed that QCUK’s chief executive was a former Qatari official who ran an anti-Semitic website instructing Muslims to hate Jews and Christians. QCUK, now called the Nectar Trust, is the British arm of Qatar Charity (QC), a Doha charity which has been designated a proscribed organization by neighboring Gulf states. On 14 June 2020, The Telegraph apologized for claiming the Qatar Charity (QC), as a terrorist organization. The Telegraph admitted that, there is no evidence to support the claim that the Qatar charity or its trustees currently support or have ever funded any terrorist or extremist group. Qatar Charity's categorization as a terrorist organization had "no legal standing in the UK," according to the Charity Commission, which also verified that it has no open cases involving Nectar. We apologized to provide clarification and extend our apologies to Qatar Charity and its trustees for any inconvenience or embarrassment caused. ''
Middle East Eye Middle East Eye (MEE) is a London-based news website covering events in the Middle East and North Africa. MEE describes itself as an "independently funded online news organization that was founded in April 2014." MEE seeks to be the primary porta ...
'' found in its investigation that ''Sunday Telegraph''s campaign coincided with efforts by the newspaper owners,
David and Frederick Barclay Sir David Rowat Barclay (27 October 1934 – 10 January 2021) and Sir Frederick Hugh Barclay (born 27 October 1934), commonly referred to as the "Barclay Brothers" or "Barclay Twins", were British billionaires. They were identical twin brothers ...
, battling for ownership of three five-star Mayfair hotels
Claridge's Claridge's is a 5-star hotel at the corner of Brook Street and Davies Street in Mayfair, London. It has long-standing connections with royalty that have led to it sometimes being referred to as an "annexe to Buckingham Palace". Claridge's Hote ...
,
The Berkeley The Berkeley is a five-star deluxe hotel, located in Wilton Place, Knightsbridge, London. The hotel is owned and managed by Maybourne Hotel Group, which also owns Claridge's and The Connaught in Mayfair, London. History 1800s and early 1900s Lo ...
and The Connaught. Qatari royal Sheikh Hamad bin Jassim bin Jaber al-Thani was the Barclay brothers' opponent, and he ultimately prevailed when in April 2015 the Qatar Investment Authority adjudicated the purchase of the three London hotels. The ''Telegraph'' denied any allegation of editorial interference by David and Sir Frederick Barclay. Qatar denied the Telegraph's claims. Qatar stated that being a Muslim investment authority did not necessarily mean they supported ISIL. Shortly after, concerns about Qatar's alleged support of extremism and ISIL were voiced at a public event. During a March 2015 conference hosted by the
United States Institute of Peace The United States Institute of Peace (USIP) is an American Federal government of the United States, federal institution tasked with promoting conflict resolution and prevention worldwide. It provides research, analysis, and training to individual ...
, the leader of Sudanese militia
Justice and Equality Movement The Justice and Equality Movement (JEM; ar, حركة العدل والمساواة, ') is an opposition group in Sudan founded by Khalil Ibrahim. Gibril Ibrahim has led the group since January 2012 after the death of Khalil, his brother, in Dec ...
, Tahir al-Faki remarked on the occasion of the official visit to the US that Qatar's alleged support of extremism was explored by representatives of the intel community, who mentioned several reports suggesting that Sudanese President Omar al-Bashir was hosting ISIL training camps in Darfur supported by Qatar. A statement issued on 11 February 2015 by humanitarian personnel Yahia Sadam belonging to another Sudanese militia Sudan Liberation Movement/Army-Minni Minnawi accused Qatar of supporting "extremism" in the country and claimed it was complicit in the "genocide" by the "scorched earth policy" executed by Sudanese soldiers by means of financial aid channeled through
Qatar Charity Qatar Charity (formerly Qatar Charitable Society) is a humanitarian and development non-governmental organization in the Middle East. It was founded in 1992 in response to the thousands of children who were made orphans by the Afghanistan war an ...
, Qatar's largest NGO, and especially directed at "building housing complexes in remote and isolated areas to harbor and train extremist groups in Africa and some Arab countries." His statement was issued in the aftermath of alleged operation by
Rapid Support Forces , image = Rapid Support Forces emblem.png , image_size = , caption = RSF Seal , start_date = August 2013 , dates = , country = , allegiance = , branch = , command_structure = Sudanese Armed Forces , type = Paramilitary , role = , ...
which expelled "250,000 villagers", by burning "45 villages" and killing "120" civilians. The nation agreed to stop supporting the Muslim Brotherhood, expelled Brothers who were not citizens from its territory, and would not shelter any people from GCC countries in order to avoid undermining relations with the Gulf during the period of 2014–2017, when Qatar appeared to be in compliance with counterterrorism and destroying its support to Islamist rebel groups. The State of Qatar is the second largest donor to the
United Nations The United Nations (UN) is an intergovernmental organization whose stated purposes are to maintain international peace and international security, security, develop friendly relations among nations, achieve international cooperation, and be ...
Trust Fund for Counterterrorism out of a total of 35 other donors, it was revealed on March 27, 2022, during the Fourth High-Level Strategic Dialogue between the State of Qatar & the
United Nations Counter-Terrorism Office The United Nations Office of Counter-Terrorism (UNOCT) was approved in a resolution on 15 June 2017, with the consensus of the 193-nation UN General Assembly. The creation of the office was also welcomed by Secretary-General of the United Nati ...
(UNOCT).


Harrods boycott

London department store
Harrods Harrods Limited is a department store located on Brompton Road in Knightsbridge, London, England. It is currently owned by the state of Qatar via its sovereign wealth fund, the Qatar Investment Authority. The Harrods brand also applies to other ...
faced a boycott campaign in October 2014 against QIA's subsidiary, Qatar Holding, which purchased Harrods in 2010. The initiative, led by London-based media lawyer Mark Lewis and extensively promoted by the ''
Sunday Telegraph ''The Sunday Telegraph'' is a British broadsheet newspaper, founded in February 1961 and published by the Telegraph Media Group, a division of Press Holdings. It is the sister paper of ''The Daily Telegraph ''The Daily Telegraph'', kn ...
'', intended to bring Qatar's role in terror finance to the public's attention. Lewis was quoted by the ''Telegraph'' as saying: "We can stand back and do nothing, but when we do, we are paying for that terror … People need to know where their money is going." The solicitor added that "the scale of its commercial holdings is such that most of us do not even realise that we are buying into its terrorist operations." The campaign attracted public attention and was endorsed by a number of public figures in the UK.


The Qatar Awareness Coalition

The ''Qatar Awareness Coalition'' (QAC), a collective of high-profile individuals affiliated with some conservative US newspapers and bloggers, sent a public letter to
Harvey Harvey, Harveys or Harvey's may refer to: Arts, entertainment, and media * ''Harvey'' (play), a 1944 play by Mary Chase about a man befriended by an invisible anthropomorphic rabbit * Harvey Awards ("Harveys"), one of the most important awards ...
and
Bob Weinstein Robert Weinstein (born October 18, 1954) is an American film producer. He is the founder and head of Dimension Films, former co-chairman of Miramax Films and The Weinstein Company, all of which he co-founded with his older brother, Harvey. He ...
, the founders of
Miramax Films Miramax, LLC, also known as Miramax Films, is an American film and television production and distribution company founded on December 19, 1979, by brothers Harvey Weinstein, Harvey and Bob Weinstein, and based in Los Angeles, California. It was ...
on 27 October 2014. The QAC claimed that the deal allegedly promotes terrorism by being affiliated with an Islamic country


Qatar Islamic Bank (QIB)

Qatar Investment Authority's affiliation with
Qatar Islamic Bank Qatar Islamic Bank (المصرف Q.P.S.C) was established in 1982 as the first Islamic financial institution in Qatar. Its products and operations are supervised by a Shari’a board, which ensures that the Bank adheres to Islamic banking and fi ...
(16.67%) raises concerns about the extent to which the sovereign wealth fund's may be or have been involved in some of the bank's activities. In a September 2015 piece, the ''Consortium Against Terrorist Finance'' (CATF) discussed the
Sharia Sharia (; ar, شريعة, sharīʿa ) is a body of religious law that forms a part of the Islamic tradition. It is derived from the religious precepts of Islam and is based on the sacred scriptures of Islam, particularly the Quran and the H ...
-compliant financial giant's correspondents and posited that several QIB's correspondents "have controversial histories of affiliation with or support of terrorist or extremist activities". Among the most concerning QIB's correspondents marked by CATF are: *
Al Rajhi Bank AL, Al, Ål or al may stand for: Arts and entertainment Fictional characters * Al (''Aladdin'') or Aladdin, the main character in Disney's ''Aladdin'' media * Al (''EastEnders''), a minor character in the British soap opera * Al (''Fullmetal ...
, which became known to the public for the conspicuous financial support offered by some of its senior officers to al-Qaeda's terrorist cause for decades; *
Islami Bank Bangladesh Limited Islami Bank Bangladesh Ltd. (IBBL) ( bn, ইসলামী ব্যাংক বাংলাদেশ লিমিটেড) is an Islamic banking company based in Bangladesh. It became incorporated on 13 March 1983 as a public limited company u ...
(IBBL), with an extensive track record of engagements in terrorist finance; * Jordan Islamic Bank and MashreqBank PSC, both on the 2013 prohibited investment list of the Illinois State Board of Investments.


See also

*
Economy of Qatar The economy of Qatar is one of the highest in the world based on GDP per capita, ranking generally among the top ten richest countries on world rankings for 2015 and 2016 data compiled by the World Bank, the United Nations, and the Internationa ...


References


External links

* * {{DEFAULTSORT:Qatar Investment Authority Financial services companies established in 2005 Government agencies of Qatar Sovereign wealth funds Financial services companies of Qatar 2005 establishments in Qatar Government agencies established in 2005 Government-owned companies of Qatar