Funding for transport, property and technology
Qatar offers £5 billion boost to Brexit Britain
Downing Street received a timely boost ahead of this week’s Brexit trigger when one of the largest investors in the UK announced it was investing £5billion in the UK transport, property and digital technology.
Middle East state Qatar, which has already invested £40bn in Britain, said that the UK leaving the European Union had little bearing on its decision.
It owns Harrods and a 95% stake in the Shard office tower on London’s south bank, as well as a stake in Canary Wharf in Docklands and the Milford Haven liquefied natural gas terminal in South Wales. It bought the Olympic Village following the London 2012 Olympics.
“Currently the UK is our first investment destination and it is the largest investment destination for Qatari investors, both public and private,” Ali Shareef al Emadi, the country’s finance minister, told the BBC.
“We have more than £35bn to £40bn of investments already in the UK. We’re announcing an additional £5bn of investment in the next three to five years.
“Mainly this investment will focus on infrastructure sectors, technology, energy and real estate.”
The announcement will be welcomed by a range of sectors, notably the property development and construction industries which rely on overseas investment to finance major projects.
Theresa May has made it clear she believes the British economy remains a positive place in which to invest and this latest move follows other investment decisions by companies such as Nissan.