Qatar will invest $35 billion in the United States during the next five years as part of Qatar’s diversification of its investments in the world, announces the Qatar Investment Authority (QIA).
The QIA, Qatar’s sovereign wealth fund, opened an office in New York to “better access new and existing investment partners,” the fund said in a statement.
The statement said that the office will enable the QIA to develop and expand its global investment portfolio. The State of Qatar has committed to investing $35bn in the United States during the next five years, Saudi-based Alriyadh newspaper reports.
The fund also committed itself to investments in Europe, Asia and the Middle East, pointing out that the New York office will make it easier to get great investment opportunities.
Qatar’s investment portfolio, which is valued between $256bn and $334bn, includes big stakes in British supermarket chain Sainsbury’s and the London Stock Exchange, as well as owning the Harrods department store and the Shard skyscraper in London.
($1 = AED3.67, at the time of publishing)