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Qatari investors buy stake in Native Land

UK-based developer Native Land has sold a stake to a group of Qatari investors, Reuters has reported. Native Land, which builds houses in some London's most exclusive neighbourhoods such as Chelsea and Belgravia, said that a "private Gulf-based investor" had taken a 45% shareholding in the company. The deal with Native Land will involve the firm's management retaining a 45% stake, while Scottish estate Buccleuch Group would reduce its majority share to 10%. The three shareholders will establish a new company, Native Land Investments, which will invest up to $785m in Native Land sites and projects across central London over the next two years, and will also fund a development programme of £1bn.