By Sharen Kaur
sharen@nstp.com.my
Published in NST on January 30, 2013
Qatar Holding LLC, a unit of the Gulf nation's sovereign wealth fund, plans to invest over US$10 billion in various projects here, including the Pengerang Integrated Petroleum Complex (PIPC) development in Johor, over the next five years.
Vice-chairman Dr Hussain Ali Al-Abdulla said Qatar Holding is eyeing mainly petrochemical projects and its investments in the sector will exceed US$5 billion.
He added that Qatar Holding also plans to invest over US$5 billion in real estate development, hotel chain expansion and other industries, including banking, in Malaysia.
The 8,100-hectare PIPC will house oil refineries, naphtha crackers, petrochemical plants as well as a liquefied natural gas import terminal and a regassification plant.
"We are in talks with major companies in Kuala Lumpur to jointly invest in petrochemical projects here. We see huge potential in Johor, not just for petrochemical but also in other sectors," he said at the ground-breaking ceremony for The Harrods Hotel development here yesterday.
The hotel, the first such hotel in Asia, is a joint investment project between Qatar Holding, which owns the world's famous Harrods brand, and property developer Jerantas Sdn Bhd.
The cash-rich Doha-based fund is not new to Malaysia. Last year, it became a cornerstone investor in state-owned plantation firm Felda Global Ventures Holdings Bhd (FGV).
FGV raised RM9.93 billion last year by selling shares on Bursa Malaysia in the world's second-largest initial public offering.
Qatar Holding is part of the Qatar Investment Authority, which is the largest shareholder in the J Sainsbury plc grocery chain in the UK.
The sovereign wealth fund has been the UK's most active investor in recent years, deploying the Gulf nation's plentiful natural gas riches in assets ranging from German sports carmaker Porsche to British bank Barclays.
Qatar Investment, through its unit Qatari Diar Real Estate Investment Co, is also the owner of the former Royal Dutch Shell plc headquarters in London. It recently bought the athletes' village at the London 2012 Olympic site for STG557 million (RM2.7 billion) in a joint venture with Delancey Estates plc.
In 2008, Qatari Diar purchased the Chelsea Barracks in west London, in a joint venture with Christian Candy's CPC Group Ltd. Two years later, Qatari Diar bought out CPC's share of the project.
sharen@nstp.com.my
Published in NST on January 30, 2013
Qatar Holding LLC, a unit of the Gulf nation's sovereign wealth fund, plans to invest over US$10 billion in various projects here, including the Pengerang Integrated Petroleum Complex (PIPC) development in Johor, over the next five years.
Vice-chairman Dr Hussain Ali Al-Abdulla said Qatar Holding is eyeing mainly petrochemical projects and its investments in the sector will exceed US$5 billion.
He added that Qatar Holding also plans to invest over US$5 billion in real estate development, hotel chain expansion and other industries, including banking, in Malaysia.
The 8,100-hectare PIPC will house oil refineries, naphtha crackers, petrochemical plants as well as a liquefied natural gas import terminal and a regassification plant.
"We are in talks with major companies in Kuala Lumpur to jointly invest in petrochemical projects here. We see huge potential in Johor, not just for petrochemical but also in other sectors," he said at the ground-breaking ceremony for The Harrods Hotel development here yesterday.
The cash-rich Doha-based fund is not new to Malaysia. Last year, it became a cornerstone investor in state-owned plantation firm Felda Global Ventures Holdings Bhd (FGV).
FGV raised RM9.93 billion last year by selling shares on Bursa Malaysia in the world's second-largest initial public offering.
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The sovereign wealth fund has been the UK's most active investor in recent years, deploying the Gulf nation's plentiful natural gas riches in assets ranging from German sports carmaker Porsche to British bank Barclays.
Qatar Investment, through its unit Qatari Diar Real Estate Investment Co, is also the owner of the former Royal Dutch Shell plc headquarters in London. It recently bought the athletes' village at the London 2012 Olympic site for STG557 million (RM2.7 billion) in a joint venture with Delancey Estates plc.
In 2008, Qatari Diar purchased the Chelsea Barracks in west London, in a joint venture with Christian Candy's CPC Group Ltd. Two years later, Qatari Diar bought out CPC's share of the project.
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ReplyDeletei want some information about the services of Real state in Qatar.