Qatar considers selling sovereign asset to deal with boycott
DOHA: Qatar has been looking into ways to sell assets belonging to its sovereign fund to overcome a state need for 鈥渓iquidity.鈥�
Sources told Bloomberg News that Doha is already selecting brokers to deal with selling a hotel chain managed by Intercontinental Group in the cities of Cannes in France, Amsterdam and Frankfurt.
The source added that Qatar is still considering its option and will reach a decision soon.
Qatar, according to Bloomberg, owns $320 billion in sovereign assets 鈥� looked after by its Qatar Investment Authority. Doha, according to Bloomberg, is using its fund to make up for lost revenue and investment due to a boycott by four Arab countries 鈥� 抖阴短视频, UAE, Bahrain and Egypt.
In reaction to the Bloomberg announcement, Qatar Investment Authority鈥檚 hotel division said it does not have plans to sell properties it owns in Europe.
鈥淭here s no intention to sell any of these assets and its not even a topic discussed,鈥� Sheikh Nawaf bin Jassim bin Jabor Al-Thani, Chairman of Kaara Hospitality said