Qatar’s SWF Nears Deal in Credit Suisse Office in London
The Qatar Investment Authority (QIA) is nearly completing the acquisition of Credit Suisse’s London headquarters. The QIA would pay £330 million for the property located in the financial district called Canary Wharf. There will be a separate sale-and-leaseback agreement to be used with Credit Suisse. The 21 floor office property is at 1 Cabot Square in London’s Canary Wharf. The building is 540,000 square feet in area.
The QIA has been an active investor and developer in English real estate. Other notable large deals in the past with Qatar’s sovereign wealth fund include, the former Chelsea Barracks site, development of Shell’s International headquarters, and development of the Olympic Village project.
The Qatar Investment Authority owns around a 6% stake in Credit Suisse and has used the bank for deals. In addition, the QIA and the China Investment Corporation own shares in UK Songbird which is the majority owner of the Canary Wharf Group.
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