A Qatari sheikh, whose son is fronting a bid for Manchester United Football Club, is mulling the sale of two luxury houses in London’s most exclusive districts with a combined asking price of £370 million ($470 million).
Sheikh Hamad bin Jassim bin Jaber Al Thani is potentially planning to sell a triplex penthouse at the One Hyde Park project in London’s upscale Knightsbridge district for about £220 million, as well as a property he owns nearby at Belgrave Square for about £150 million, according to people familiar with the matter.
The former head of the Qatar Investment Authority and an ex-prime minister of the emirate is one of the most high-profile investors in the Middle East and one of the key shareholders at German lender Deutsche Bank AG. During his tenure at QIA, the sovereign wealth fund amassed stakes in some of the most prestigious European companies, including stakes in commodities trader Glencore Plc, British lender Barclays Plc and luxury department store Harrods.
The potential sale of some of Sheikh Hamad’s luxury London portfolio comes after the billionaire bought and refurbished the six-story Forbes House, which sits a few minutes walk from Buckingham Palace.The discreet nature of London’s ultra-prime housing market means agents typically sound out prospective buyers through their private network, often over WhatsApp.
Still, the less debt-reliant nature of London’s luxury housing market means the costliest home sales are holding up better than cheaper deals. Some 17% of ultra-high-net-worth individuals bought at least one home last year, according to a separate report from broker Knight Frank, and the wealthiest home owners are still securing deals.
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