Qatar buys stake in German construction company
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Qatar buys stake in German construction company

Qatar buys stake in German construction company

Qatar Holding (QH) is to buy a 9.1% stake in Germany's largest construction company, Hochtief for €400m ($533m), Reuters has reported. The deal is vital for infrastructure development for the 2022 World Cup in the Gulf state, QH said. As part of the deal, Hochtief is to locate its Middle East headquarters in the Qatari capital, train local staff, and run a research and development facility. Qatar is expected to spend $100bn over the next five years on infrastructure in projects ranging from air-conditioned stadiums to road and rail networks.

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