Qatar hikes stake in Canary Wharf owner
London, April 7, 2011
Songbird Estates, majority owner of Canary Wharf Group, said on Wednesday its two biggest shareholders, Qatar Holding and Simon Glick had increased their stakes in the company.
Qatar Holding, a subsidiary of the country's sovereign wealth fund, acquired 28.5 million ordinary shares, raising its stake by 3.7 percent to 27.7 percent, Songbird said in a statement to the London bourse.
GF Investments II, an investment vehicle for Simon Glick and his family, bought 8.8 million shares, increasing its stake by 1.1 percent to 25.1 percent, it said.
The sellers were not named and Songbird declined to comment.
The investments do not change the positions of Qatar Investments as the biggest investor in Songbird and GF Investments as No.2. The share increase is another indication of Qatar's keen interest in prime London property.
Qatar has been a long-term shareholder in Songbird, whose Canary Wharf Group is the developer of London's business district of the same name. Qatar also owns the former Chelsea Barracks site and last year bought Harrod's department store.
Songbird shares closed up 2.4 percent at 149 pence. - Reuters
More Construction & Real Estate Stories
- Abu Dhabi set for big property show
- Aldar working on $1.5bn UAE housing projects
- Gulf Finance House to start $3bn Tunisia project
- Abu Dhabi to see 10pc surge in new homes
- Saudi construction sector booming on new contracts
- Emaar offers 330 apartments in MBR City
- Dubai Design District sees big demand
- HUGE DEAL: Arabtec inks $40bn Egypt housing project
- Galfar ex-CEO gets 15 years' jail over bribes
- $32m BFH car park work underway
- Bahrain awards $5.8m project tenders
- Spinneys to set up distribution centre at Kizad
- Dubai unveils $300m hitech 'green' city project
- Deyaar plans $245m Dubai complex
- IFA unveils $272m Dubai mixed-use project
- CBRE tops Fortune’s most admired firms list
- Kuwait's real estate sales hit $1.1bn in Jan
- Dubai RTA awards $27m roads contract
- Work to start on Bahrain beach project
- Damac launches luxury apartments at Expo site
- Kuwaitis top GCC property buyers in Oman
- Rubber World to showcase at Big 5 Saudi
- Tool to help create effective property listings
- 'Smart' move by Dubai Design District
- Drake unit wins $13m contract in India
- Solar-powered cleaning boats launched in Sharjah
- $27m Expo Hotel Sharjah deal signed
- Arabtec unit wins $282m Emaar contract
- Abu Dhabi to host pool & spa expo
- ADCM unit secures $213m bridging loan