QIA Acquires Major London Financial Center

Canary Wharf has been bought by the Qatar Investment Authority for US$4 billion.

learn more about Kareem Chehayeb

By Kareem Chehayeb


Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.

The Qatar Investment Authority (QIA) has completed yet another major acquisition: London's Canary Wharf. After many failed attempts, Songbird Estates, which owns 70% of the Canary Wharf Group, caved in for a US$4 billion bid by the QIA. Prior to the bid, Qatar owned 29% of Songbird Estates, and it had to challenge three major shareholders who owned 50%: New York-based investor Simon Glick, Morgan Stanley and the China Investment Corporation. It's also worth mentioning that Canada's Brookfield Properties, who were involved with QIA in the acquisition, already owned 22% of the Canary Wharf Group.

Many major banks, firms and other businesses including HSBC, Barclays, Morgan Stanley, and Bank of America Merrill Lynch, have their European or world headquarters setup at Canary Wharf. The district is also working on its first residential building, and it's also gearing up for further expansion. Despite surpassing previous major acquisitions (QIF's subsidiary Qatar Holdings purchased department store Harrods for $2.3 billion in 2010), could QIA's investments get bigger than this? There could be a financial institution or two in the now QIA-owned Canary Wharf speculating just that.

Kareem Chehayeb

Former Columnist & Online Liaison, Entrepreneur Middle East

Related Topics

Growing a Business

Rudy Mawer Shares 10 Ways To 10x Your Business

Learn the tactics needed to exponentially grow your revenue


Startup Spotlight: UAE-Based Lisan's AI-Powered Proofreading Platform Guarantees Error-Free Arabic Writing

The 12 products Alasadi alludes to aim to correct 12 specific types of errors, which include spelling, grammatical, morphological, semantic, and stylistic errors, as well as mistakes related to checking quotations and proper names.


5 Winning Habits That Will Transform Your Leadership Skills

Ready to take your leadership skills to the next level? Discover the five winning habits that will transform you into an exceptional leader!

Thought Leaders

The Collapse of Credit Suisse: A Cautionary Tale of Resistance to Hybrid Work

This cautionary tale serves as a reminder for business leaders to adapt to the changing world of work and prioritize their workforce's needs and preferences.