A number of sources assured to Bloomberg that Qatar Investment Authority seeks to acquire the luxurious St. Regis hotel situated in New York and San Francisco. The hotel is a part of Starwood chain of resorts and hotel. The deal value is estimated by about one billion dollars.
It’s worth mentioning that QIA has established a real estate investment arm in 2009. The authority’s real estate investment value reached 38 billion dollars including acquiring St. Regis in Rome.
Last year, the authority opened an office in New York to manage its growing investments in USA. The authority announced then investing about 35 billion dollars in US market.
Qatar Investment Authority is a sovereign wealth fund headed by Tamim bin Hammad bin Khalifa Al Thani who is an expert in local and foreign investments. The authority was founded by the government in 2005 to manage the surplus of oil and natural gas revenues. The authority deals mostly in international markets like USA, Asia, Pacific, in addition to investing in non-oil economic sectors in Qatar.