Qatar’s Emir Acquires Property in Granada

28 July 2019 – Richard D. K. Turner

The emir of Qatar, Tamim bin Hamad al Zani, has just acquired an at least 6,000-m2 carmen, a Granada-style home, overlooking the Alhambra and Sierra Nevada. The emir paid 15.3 million euros for the property, acquiring the house in a personal capacity. The estate has two gardens, several buildings and excellent views.

The carmen belonged to the late businessman Rafael Pérez-Pire, founder of the Puleva dairy company, who acquired the property in 1943. The word carmen comes from the Aramaic kermel, meaning mountain with vineyards and water.

Original Story: Periodista Digital – Manuel Trujillo

Qatar “Conquers” Málaga’s Port With A 35-Storey €100M Hotel

26 November 2015 – El Confidencial

Just like in Madrid with the Cuatro Torres and in Sevilla with Torre Pelli. A hotel is going to definitively change the skyline of Málaga. A group from Qatar is going to invest €105 million in a luxury 35-storey five-star hotel in the Port of Malaga. The project, involving 350 rooms, will be modelled on the Sail Hotel in Barcelona, with an average occupancy rate of 80% and an average room rate of €300 per night. On Monday, the Port Authority of Málaga approved the start of the administrative concession to drive the business initiative, led by the company Andalusian Hospitality II SL, whose sole director is Fakhroo Abdulla Darwish AD, according to data obtained from the Commercial Registry in Málaga.

(…). Andalusian Hospitality II SL has already deposited €1.8 million as a guarantee, equivalent to 2% of the value of the construction project. At least one other business group is interested in constructing a hotel in the port area. (…).

However, the process has barely begun. Following the publication of the applications made by the aspiring bidders in the BOE, modifications need to be made to the Port’s Special Plan, which must be approved by Málaga’s Town Hall and by the Council of Ministers, as required by the Ports’ Law, since the process involves the construction of a hotel in the port, as happened in the case of the iconic Sail Hotel in Barcelona and another hotel in Alicante.

The Civil Aviation authority has limited the height of the building to 175 metres. (…).

Málaga’s hotel supply

“The hotel could become a destination in itself”, said Paulino Plata, the President of the Port Authority of Málaga. The head of the Málaga port values the project’s significant potential to generate employment (“double the number of jobs that would be created by a four-star hotel”, he says), although he did not want to give a specific figure. But, is there demand for a hotel like this? Between 2003 and 2013, the supply of hotels in the city of Málaga doubled and the average occupancy rate rose to 66%. The best year was 2014.

The Port Authority of Málaga also views the project favourably as a way of enabling it to avoid the losses that are dragging it down since the decline in container traffic. They calculate that they could receive an annual fee of €1 million, “which could cancel out our losses”, admits Plata.

José Seguí is the architect who has been commissioned by the Qatari company. Sources close to his office stated that it was “too soon” to know any details about his plans for the hotel. (…). “This is just the beginning of a long process”, added the same sources.

Original story: El Confidencial (by Agustín Rivera)

Translation: Carmel Drake

Qatar Sovereign Wealth Fund Increases Its Share in Colonial to 13%

13/05/2014 – Expansión 

The sovereign wealth fund from Qatar raised its holding in the real estate firm to 13.1%. According to Colonial´s current stock market price per share, the fund paid around €239 million for the stake.

Now, it will be the second main shareholder just behind Villar Mir who has previously injected fresh capital to the ailing company in order to allow it to cut in debt and welcome new stakeholders.

Right now, Qatari fund owns 416 million shares corresponding to 13.1% of the stake. After the capital enlargement, other Colonial´s investors hold as follows: Coral Partners 9.48%, Santo Domingo 7.5%, MoraBank 7.05%.

After the ampliation and changes in its holding, Colonial will focus on exploitation of its office building portfolio including property in Madrid, Barcelona and Paris.

Today Juan Miguel Villar Mir joins the managing board of the real estate company.



Original article: Expansión (after Europa Press)

Translation: AURA REE

Qatar Invests €150 Mn in Colonial´s French Affiliate

16/04/2014 – Expansion

Qatar sovereign wealth fund has disbursed another €175 million in Colonial. Last week, the fund bought a 3.8% stake in the Spanish real estate firm for €20 million from Goldman Sachs. Now, it decided to expand the holding to 7.8% by paying additional €25 million. The seller is still unknown but the chances are that Credit Agricole finally conducted its long-billed divestment.

In parallel, Qatar invested €150 million in SFL (Société Foncière Lyonnaise), Paris-based company possessing 18 buildings in the French capital and held by Colonial in 53 percent.

According to sources with knowledge of the operation, it was also Crédit Agricole who sold 8.55% of SFL to Qatar. Apart from the French bank, SFL is held by Royal Bank of Scotland (RBS) (7.5%), Unibail Rodamco (7.2%), Orion III (6.4%) and Reig Capital (4.4%).

Last week, Colonial started the €1.266 million capital enlargement process and for that reason its shares´ price fell yesterday by 12.91% to 0.607 euros a share.



Original article: Expansión (by Marisa Anglés)

Translation: AURA REE

On Loan News, Colonial Shoots Up by 21.22%

11/04/2014 – Expansion

After the news spread about obtaining a €1.040 million loan by Colonial, the real estate shares went up by 21.22%, reaching 2012 values. The loan shall be added to planned €1.266 million capital enlargement, to be carried out soon.

The shares were sold for 2.40 Euros a share. What is more, Qatar sovereign wealth fund acquired a 3.78 % holding in Colonial valued at €20.4 million. (…).

For the nearest capital enlargement the company has got €572 million pledged by its shareholders: €308 mn to be contributed by Villar Mir (who could possibly gain a 29% stake), €164 mn by Santo Domingo and €100 mn by MoraBanc. (…).


Original article: Expansión

Translation: AURA REE