Qatari Sheikh weighs selling £370m Knightsbridge homes

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A Qatari sheikh, whose son is leading a bid for Manchester United Football Club, is contemplating the potential sale of two opulent residences in the most prestigious locales of London, with a combined listing price reaching £370 million.

Sheikh Hamad bin Jassim bin Jaber Al Thani is reportedly considering the sale of a triplex penthouse situated within the renowned One Hyde Park development in the upscale Knightsbridge district. This opulent residence could be offered for approximately £220 million. Additionally, he is contemplating the sale of a nearby property on Belgrave Square, with an estimated value of around £150 million. Insiders with knowledge of the matter disclosed this information.

The decision to proceed with the sale hinges on whether the received offers meet the desired asking price, as per these sources. The royal’s private investment firm, Al Mirqab Capital, as well as family members, were contacted for comment, but no response has been received thus far.

Sheikh Hamad, who formerly headed the Qatar Investment Authority (QIA) and served as a prime minister of the emirate, stands as a prominent figure in Middle Eastern investments. He is a significant shareholder at the German bank Deutsche Bank AG. His tenure at QIA led to the acquisition of stakes in esteemed European entities, such as commodities trader Glencore Plc, British lender Barclays Plc, and luxury emporium Harrods.

Known for his close relationship with King Charles, Sheikh Hamad earned the moniker “man who bought London” in the British media due to his instrumental role in expanding Qatari interests within the UK capital since the start of the millennium.

The potential divestiture of a portion of Sheikh Hamad’s opulent London property holdings follows his recent acquisition and restoration of Forbes House, a six-story residence conveniently located a short walk from Buckingham Palace.

Given the discreet nature of London’s ultra-premium housing market, real estate agents usually approach potential buyers via private channels, often resorting to platforms like WhatsApp. This enables sellers to gauge pricing without leaving a digital trail, thus avoiding disadvantages in case of potential re-marketing at a later time.

While London’s luxury housing market has faced some pressure this year due to elevated financing costs, the sector has retained its resilience, particularly in the upper echelons. Wealthy individuals have continued to invest, and high-value transactions remain prevalent. This was evident when Indian billionaire Ravi Ruia secured a £113 million mansion overlooking Regent’s Park in one of London’s most significant recent residential deals.

Assisting the sheikh in the possible sale of both properties are Savills Plc, a prominent luxury estate agent, and Becky Fatemi, the founder of Rokstone, a super prime brokerage firm. The penthouse adjacent to Hyde Park was developed through a partnership between Sheikh Hamad and CPC Group, owned by Christian Candy. This luxurious residence is positioned adjacent to the Mandarin Oriental hotel and a mere five-minute walk from Harrods.