The iconic Canary Wharf, located in the heart of London, is known worldwide for its impressive skyline and thriving financial district. However, what many people may not know is that this prime real estate is actually owned by Qatar. The tiny Middle Eastern country, Qatar, acquired the ownership of Canary Wharf back in 2015, making waves in the global business world.
So, how did Qatar come to own such a significant piece of London’s landscape? The Qatar Investment Authority (QIA), the sovereign wealth fund of Qatar, purchased the majority stake in Canary Wharf Group from Songbird Estates, a British property company. This landmark deal allowed Qatar to take control of not only the famous skyscrapers, but also the entire 97-acre estate, which includes office buildings, retail spaces, and even residential areas.
But just how much does Qatar own of Canary Wharf? The QIA holds a whopping 95% stake in Canary Wharf Group, giving them the lion’s share of the ownership. This means that Qatar has significant control over the development, management, and future of this bustling financial hub. Their investment in the area has not only strengthened their presence in the global real estate market, but also reinforced their financial influence on a global scale.
The History of Canary Wharf
Canary Wharf, much of which is now owned by Qatar, has a rich history that dates back many years. Originally, this area on the Isle of Dogs in London was a thriving port, known as the West India Docks. Built in the early 19th century, these docks played a vital role in the trade and economy of London.
Over time, however, the docks fell into disuse and the area became neglected and run-down. It wasn’t until the 1980s that the potential of Canary Wharf was realized and plans were made to transform it into a world-class financial hub.
The Transformation of Canary Wharf
Qatar, as an owner of much of Canary Wharf, played a significant role in its transformation. The Qatar Investment Authority, the country’s sovereign wealth fund, acquired a stake in the Canary Wharf Group in 2009. This stake allowed Qatar to have a say in the development and management of the area.
Under the ownership of Qatar, Canary Wharf has flourished into a thriving business and residential district. The area is home to numerous corporate headquarters, including those of major financial institutions, and boasts some of the tallest buildings in London.
How Qatar Became the Owner
Qatar’s ownership of Canary Wharf is the result of a long-term investment strategy. The country’s sovereign wealth fund saw the potential in the redevelopment of the area and made strategic investments to secure its stake in the Canary Wharf Group.
Through a series of transactions, the Qatar Investment Authority gradually increased its ownership in the Canary Wharf Group. Today, Qatar holds a significant stake in the group, ensuring its influence and control in the ongoing development of Canary Wharf.
| Year | Transaction |
|---|---|
| 2005 | Qatar Investment Authority acquires 20% stake in Canary Wharf Group |
| 2009 | Qatar Investment Authority increases stake to 27.7% |
| 2012 | Qatar Investment Authority becomes largest shareholder with a 28.6% stake |
| 2015 | Qatar Investment Authority boosts stake to 29.6% |
As a result of Qatar’s ownership, Canary Wharf has become a symbol of the country’s global influence and investment strategy. The area continues to attract businesses and residents from around the world, solidifying its reputation as a leading financial center.
Qatar’s Investments in the UK
Qatar has become a major investor in the United Kingdom, with its ownership of Canary Wharf being one of its most prominent investments. But just how much does Qatar own in the UK?
Qatar’s investment in Canary Wharf is significant, with the country owning the majority stake in the iconic business district. The Qatar Investment Authority (QIA), Qatar’s sovereign wealth fund, acquired a 20% stake in Canary Wharf in 2009, and later increased its stake to 100% in 2015.
In addition to Canary Wharf, Qatar has made other noteworthy investments in the UK. The QIA owns a significant stake in London’s Shard, the tallest building in Western Europe, as well as the luxury department store Harrods. Qatar has also invested in prime real estate properties in London, including high-end hotels and residential buildings.
Qatar’s investment in the UK extends beyond real estate. The country has also invested in various industries, such as banking, telecommunications, and energy. For example, Qatar owns a stake in Barclays, one of the largest banks in the UK, and has made investments in British telecommunications companies. Qatar also has a significant presence in the energy sector, with investments in British oil and gas fields.
Overall, Qatar’s investments in the UK are diverse and extensive. The country’s ownership of Canary Wharf and other prominent assets in London showcases its financial strength and commitment to investing in the UK market.
Financial Impact of Qatar’s Ownership
Qatar’s ownership of Canary Wharf has had a significant financial impact on the property and the surrounding area. By owning a stake in this iconic business district, Qatar has not only gained a valuable asset, but also become a major player in London’s real estate market.
How much does Qatar own?
Qatar’s ownership in Canary Wharf is substantial. The country’s sovereign wealth fund, the Qatar Investment Authority (QIA), owns a 10% stake in the Canary Wharf Group, which developed and manages the estate.
How does Qatar’s ownership affect the value of Canary Wharf?
Qatar’s ownership has had a positive impact on the value of Canary Wharf. The investment from Qatar has brought stability and credibility to the property, attracting other investors and enhancing its reputation as a prime location for businesses.
The QIA’s deep pockets and long-term investment strategy have also allowed for significant improvements and developments within Canary Wharf, further increasing its value. The presence of Qatar as an owner has helped to ensure ongoing investment and maintenance of the estate.
Additionally, Qatar’s ownership has contributed to the growth of the local economy. Canary Wharf has become a major business hub, attracting multinational corporations and creating thousands of jobs in various sectors.
What are the potential risks?
While Qatar’s ownership has been largely positive, there are potential risks associated with their stake in Canary Wharf. The dependence on a single investor increases the vulnerability of the estate to any changes in Qatar’s investment strategy or economic situation.
Furthermore, Qatar’s ownership has attracted controversy and scrutiny, particularly regarding issues of transparency and governance. These concerns could potentially affect the reputation and desirability of Canary Wharf as an investment destination.
- Overall, Qatar’s ownership of Canary Wharf has had a significant financial impact, boosting the value of the property and attracting investment.
- However, there are potential risks associated with this ownership, including dependence on a single investor and concerns over transparency.
Qatar’s Influence on Canary Wharf’s Development
Qatar, a sovereign state in the Middle East, owns a significant stake in Canary Wharf, a major business district in London. The Qatar Investment Authority (QIA), the country’s sovereign wealth fund, acquired the stake in 2015 for £2.6 billion. Since then, Qatar has played a crucial role in shaping the development and growth of Canary Wharf.
How does Qatar own a stake in Canary Wharf?
Qatar’s ownership of a stake in Canary Wharf comes as a result of its strategic investment strategy. The QIA, with its vast financial resources, seeks opportunities for long-term investments that can generate substantial returns. The acquisition of the stake in Canary Wharf aligns with Qatar’s goal of diversifying its investment portfolio and expanding its global presence.
How much of Canary Wharf does Qatar own?
Qatar currently owns a 29% stake in Canary Wharf, making it one of the largest shareholders. This substantial ownership enables Qatar to have a significant say in the decision-making process and direction of the business district. Qatar’s involvement has been instrumental in attracting international businesses and investors to Canary Wharf, contributing to its continued success as a premier financial hub.
Through its ownership stake, Qatar actively participates in the planning and development of new projects within Canary Wharf. This involvement ensures that the district remains attractive to businesses and maintains its competitive edge in the global market.
In conclusion, Qatar’s ownership of a stake in Canary Wharf has greatly influenced the development and growth of this renowned business district in London. With its substantial investment, Qatar plays a crucial role in shaping the future of Canary Wharf and ensuring its status as a global financial powerhouse.
Ownership Structure of Canary Wharf
Canary Wharf, one of London’s most iconic financial districts, is owned in large part by Qatar Investment Authority (QIA). QIA, the sovereign wealth fund of Qatar, owns a significant stake in the Canary Wharf Group.
The exact percentage of ownership by QIA is not publicly disclosed, but it is widely estimated to be around 28.5%. This makes QIA the largest shareholder in Canary Wharf.
Qatar’s ownership of Canary Wharf dates back to 2015, when QIA purchased its initial stake in the company. Since then, QIA has increased its ownership through various transactions.
It’s worth noting that QIA is not the sole owner of Canary Wharf. Other major stakeholders include China Investment Corporation (CIC) and Brookfield Property Partners (BPP).
CIC, a Chinese sovereign wealth fund, owns a significant portion of Canary Wharf. The exact percentage of CIC’s ownership is also not publicly disclosed, but it is believed to be around 20%. This makes CIC the second largest shareholder in the district.
BPP, a global real estate company based in Canada, also owns a significant stake in Canary Wharf. The exact percentage of BPP’s ownership is not publicly known.
Overall, Qatar, China, and Canada play major roles in the ownership structure of Canary Wharf. Qatar, through QIA, holds the largest stake, with China and Canada also holding substantial ownership interests.
Qatar’s Controversial Investments
In recent years, Qatar has made headlines with its controversial investments in various sectors around the world. One of its noteworthy investments is the ownership of Canary Wharf in London.
Canary Wharf, a major business district in London, is home to some of the tallest buildings in the United Kingdom and serves as an international financial hub. Qatar’s presence in the district has raised questions about the extent of its ownership and how much influence it has over the area.
Qatar owns a significant stake in Canary Wharf through its sovereign wealth fund, the Qatar Investment Authority (QIA). The QIA initially acquired a 10% stake in Canary Wharf Group in 2009 and has gradually increased its ownership over the years. At present, the exact percentage of Qatar’s ownership is not publicly disclosed, leading to speculation and debate.
The investment has not been without controversy. Concerns have been raised about the potential influence Qatar may have over the district’s development and decision-making processes. Some critics argue that the secretive nature of Qatar’s ownership makes it difficult to assess its impact on the local economy and community.
Furthermore, Qatar’s investment in Canary Wharf has been viewed through the lens of wider geopolitical issues. Qatar’s support for various controversial policies and its alleged support for extremist groups have drawn criticism from certain quarters. This has led to concerns about the potential influence Qatar may exert through its ownership of prominent landmarks like Canary Wharf.
However, it is important to note that Qatar’s investment in Canary Wharf has also brought significant economic benefits. The district has experienced significant growth and development since Qatar’s initial investment, contributing to London’s position as a global financial center. The presence of international companies and financial institutions in Canary Wharf has created jobs and attracted foreign investment to the area.
Overall, Qatar’s ownership of Canary Wharf remains a topic of debate and scrutiny. While the extent of Qatar’s ownership and its potential influence raise valid concerns, it is also important to acknowledge the economic benefits it has brought to the district. The controversy surrounding Qatar’s investments highlights the complex nature of foreign investment and its impact on local economies and communities.
Canary Wharf’s Importance to Qatar
Canary Wharf, located in the heart of London, has become a key investment for Qatar. The Qatari government has acquired a significant stake in the iconic financial district, demonstrating the country’s ambition to diversify its holdings beyond its traditional sectors.
With its prime location and reputation as one of the world’s leading financial centers, Canary Wharf offers Qatar a strategic opportunity to expand its global influence and establish a strong presence in the UK. Qatar’s ownership of Canary Wharf provides the country with a foothold in the highly competitive real estate market and access to the lucrative commercial property sector.
Moreover, Qatar’s investment in Canary Wharf goes beyond purely financial interests. The acquisition aligns with the country’s long-term vision and commitment to promote economic growth, create job opportunities, and foster innovation. By investing in a prestigious landmark like Canary Wharf, Qatar aims to attract international investors, businesses, and talent, thereby bolstering its own economic diversification efforts.
Just how much Qatar owns of Canary Wharf remains undisclosed, but it is believed to have a significant stake in the district, highlighting the country’s confidence in the long-term value and potential returns that the investment offers.
Overall, Canary Wharf holds immense importance to Qatar in terms of its strategic significance, economic potential, and global prestige. This acquisition showcases Qatar’s commitment to expanding its international portfolio and reinforces its position as a major player in the global business landscape.
Qatar’s Future Plans
As the owner of much of Canary Wharf, Qatar has big plans for the future. With its extensive investments in the area, Qatar aims to further develop and expand the infrastructure, making it a top business and financial hub.
Qatar’s vision for Canary Wharf includes the construction of new state-of-the-art office buildings, luxury residential properties, and world-class amenities. These efforts aim to attract more international companies and investors, further strengthening the area’s position as a global business destination.
In addition to enhancing the physical landscape of Canary Wharf, Qatar also plans to improve the transport links to and from the area. This includes the development of new transportation systems, such as the expansion of the existing DLR (Docklands Light Railway) and potentially even the introduction of new underground lines.
Furthermore, Qatar is committed to creating a sustainable and eco-friendly environment in Canary Wharf. The country aims to incorporate green building and environmental practices into all new developments, ensuring a greener future for the area.
Overall, Qatar’s future plans for Canary Wharf demonstrate their long-term commitment to the area’s growth and development. By investing in new infrastructure, improving transport links, and prioritizing sustainability, Qatar aims to solidify Canary Wharf’s status as a global business and financial center.
Public Perceptions of Qatar’s Ownership
Public perceptions of Qatar’s ownership of Canary Wharf vary widely. Many people are aware of Qatar’s significant investment in the iconic London landmark, but few understand the extent of their ownership. Qatar owns a substantial portion of Canary Wharf through its sovereign wealth fund, the Qatar Investment Authority.
There is often a misconception that Qatar owns the entire Canary Wharf, but this is not the case. Qatar owns a stake in the holdings company that controls the development and management of the Wharf, but other entities, such as the Canadian investment group Brookfield Property Partners, also have significant ownership shares.
Some people question how much control Qatar exercises over the operations and decision-making processes of Canary Wharf. While Qatar is a major investor, it does not have full control over the day-to-day operations. The holdings company has a diversified ownership structure, with multiple entities having a say in the management of the Wharf.
Furthermore, there has been ongoing discussion about the impact of Qatar’s ownership on the development and future of Canary Wharf. Some speculate that Qatar’s ownership may lead to increased investment and growth in the area, while others worry about the potential influence and dominance of foreign investors.
Overall, public perceptions of Qatar’s ownership of Canary Wharf are mixed. Some view it as a positive sign of international investment and economic development, while others have concerns about foreign ownership and influence. The reality lies somewhere in between, as Qatar’s ownership is significant but not absolute.
Economic Pros and Cons
When it comes to the ownership of Canary Wharf, Qatar has a significant stake. However, the question that arises is: does this ownership provide economic benefits or drawbacks?
Pros
One of the major advantages of Qatar owning a stake in Canary Wharf is the injection of much-needed investment. Qatar’s vast wealth allows them to invest in the development and improvement of the area, which can lead to economic growth and job creation. The influx of capital can also attract other businesses and investors, boosting the overall economy.
Additionally, Qatar’s ownership can bring international recognition and prestige to Canary Wharf. As a major player in the global economy, Qatar’s presence can enhance the reputation of the area and attract multinational companies and high-net-worth individuals. This can lead to further economic opportunities and development.
Cons
On the other hand, there are potential drawbacks to Qatar’s ownership of Canary Wharf. One concern is the risk of over-reliance on a single investor or country. If Qatar were to divest their stake or if their economic situation were to change, it could have a significant impact on the area’s economy. This vulnerability could also lead to political pressure or interference from Qatar.
Another potential con is the impact on local businesses and residents. Qatar’s ownership may prioritize their own interests and development projects, which could overshadow the needs and concerns of the local community. This could lead to increased rent prices, displacement of local businesses, and a loss of the unique character that attracts people to Canary Wharf.
In conclusion, Qatar’s ownership of Canary Wharf has both economic pros and cons. While their investment can bring much-needed capital and enhance the area’s reputation, there are concerns about over-reliance, potential political interference, and the impact on the local community. It is important to weigh these factors when evaluating the overall impact of Qatar’s ownership.
Political Implications of Qatar’s Ownership
Qatar’s ownership of Canary Wharf has significant political implications. One of the primary questions that arises is: how does Qatar owning a stake in such a prominent London business district impact the political landscape?
Firstly, Qatar’s ownership of Canary Wharf highlights the increasing influence of foreign states in the global economy. Qatar, a small but wealthy nation, has been investing heavily in international real estate and infrastructure projects. This ownership stake in Canary Wharf further demonstrates Qatar’s desire to diversify its assets and expand its global influence.
The Impact on London’s Economy
The ownership of Canary Wharf by Qatar raises questions about the relationship between the UK and Qatar, especially in terms of economic ties. Qatar’s significant investment in London’s financial district indicates a level of economic interdependence between the two countries. It also begs the question of how much influence Qatar could potentially exert over London’s economy.
Furthermore, the political implications extend beyond economic matters. Qatar’s ownership stake in Canary Wharf raises concerns about national security and potential political influence. Qatar’s government has faced accusations of promoting extremist ideologies, and there are concerns that its ownership of such a significant part of London’s business infrastructure could potentially be exploited for political or security purposes.
The Role of Diplomacy
Qatar’s ownership of Canary Wharf also highlights the importance of diplomacy and international relations. It requires careful navigation and communication between governments to ensure that the interests of both countries are protected. The UK government, for example, must balance its economic and security concerns while maintaining a positive and mutually beneficial relationship with Qatar.
In conclusion, Qatar’s ownership of Canary Wharf has political implications that go beyond the economic sphere. It raises questions about the relationship between Qatar and the UK, as well as concerns about national security and political influence. Furthermore, it emphasizes the role of diplomacy in managing the interests of both countries. The stakes are high, and the political implications of Qatar’s ownership of Canary Wharf should not be underestimated.
Environmental Initiatives at Canary Wharf
Canary Wharf, with its iconic skyscrapers and bustling financial district, is not only a symbol of business and enterprise, but also a hub for environmental initiatives. As one of the largest privately-owned commercial developments in Europe, Canary Wharf takes pride in its commitment to sustainability and reducing its environmental impact.
Qatar, the owner of Canary Wharf, recognizes the importance of environmental responsibility and has implemented various initiatives to showcase its commitment. One of the key initiatives is energy efficiency. Canary Wharf has invested in state-of-the-art technology and infrastructure to reduce energy consumption and carbon emissions. This includes energy-efficient lighting, smart building management systems, and renewable energy sources.
Another area of focus is waste management. Canary Wharf has implemented a comprehensive recycling program, ensuring that waste is sorted, recycled, and disposed of responsibly. The development also promotes a sustainable approach to construction and demolition waste, encouraging the use of recycled materials and innovative techniques to minimize waste generation.
In addition, Canary Wharf has prioritized green spaces and biodiversity within the development. The estate features beautifully landscaped parks, gardens, and waterways, providing a haven for wildlife and promoting a healthy urban environment. Qatar has invested in preserving and enhancing these green spaces, recognizing their importance in creating a balanced ecosystem within the bustling cityscape of Canary Wharf.
Moreover, Qatar has supported initiatives to raise awareness and educate businesses and residents of Canary Wharf about sustainable practices. The development hosts educational events, workshops, and seminars to promote sustainability and environmental stewardship. It also encourages businesses to implement their own green initiatives, fostering a culture of corporate responsibility and environmental consciousness.
Overall, Canary Wharf’s environmental initiatives under the ownership of Qatar demonstrate the importance placed on sustainability and responsible development. Through energy efficiency, waste management, green spaces, and education, Canary Wharf is leading the way towards a greener future in the heart of London.
Social Impact of Qatar’s Investments
Qatar’s ownership of Canary Wharf has had a significant social impact on the area. With its investments, Qatar has transformed Canary Wharf into a thriving business district, bringing in new businesses, creating jobs, and stimulating economic growth.
One of the most noticeable social impacts is the increased diversity in the area. Qatar’s investments have attracted people from all over the world to work and live in Canary Wharf. This has created a multicultural community where different cultures, languages, and perspectives collide and enrich the overall social fabric of the area.
Economic Opportunities
Qatar’s investments in Canary Wharf have also resulted in the creation of numerous economic opportunities. The influx of businesses has created a demand for skilled professionals, leading to job creation and employment opportunities for local residents. This has not only improved the financial well-being of individuals but has also contributed to the overall prosperity of the local community.
Furthermore, Qatar’s investments have promoted innovation and entrepreneurship. The presence of multinational corporations and start-ups in Canary Wharf has fostered an environment conducive to creativity and idea-sharing. This has not only benefitted the businesses themselves but has also had a positive spillover effect on the wider community, driving innovation and technological advancements.
Community Development
Qatar’s ownership of Canary Wharf has also had a positive impact on the development of the local community. The investments made by Qatar have been channeled into various community projects, such as the construction of parks, schools, and cultural centers. These initiatives have helped enhance the overall quality of life in the area, providing residents with access to green spaces, educational opportunities, and diverse cultural experiences.
Moreover, Qatar’s investments have supported social initiatives and charitable causes in the local community. Through philanthropic efforts, Qatar has contributed to the welfare of the community, addressing social issues and improving the lives of disadvantaged groups.
In conclusion, Qatar’s ownership of Canary Wharf has had a significant social impact. The investments made by Qatar have transformed the area into a vibrant and diverse community, offering economic opportunities, fostering innovation, and supporting community development initiatives.
Qatar’s Expansion beyond Canary Wharf
While Qatar’s ownership of Canary Wharf has been a significant investment, it is just one component of Qatar’s broader expansion strategy. Qatar, as a wealthy and powerful nation, has been actively seeking opportunities to diversify its assets and increase its global influence.
Canary Wharf, with its prime location in London and its status as a major financial hub, provides Qatar with a foothold in the heart of the international business world. However, Qatar’s ambitions go beyond this one iconic wharf.
Qatar does not solely own Canary Wharf, but it has a substantial stake in it. The Qatar Investment Authority (QIA), the sovereign wealth fund of Qatar, owns a 28.5% stake in Songbird Estates, the majority shareholder of Canary Wharf Group. This stake gives Qatar significant influence over the development and management of the Canary Wharf estate.
As Qatar continues to expand its global portfolio, it has invested in a wide range of sectors, including real estate, technology, infrastructure, and hospitality. The QIA has acquired assets and stakes in prominent companies and projects around the world, from luxury hotels in Europe to landmark buildings in the United States.
One prime example of Qatar’s expansion is its ownership of the Shard, the tallest building in Western Europe. Qatar’s involvement in this iconic London skyscraper demonstrates the country’s desire to extend its reach beyond Canary Wharf and establish a more prominent presence in the city’s skyline.
How much of Canary Wharf Qatar actually owns is just a fraction of its overall investment strategy. Qatar’s ambitions reach far beyond a single wharf, as the nation strives to become a global player in various industries and establish a lasting legacy on the international stage.
In summary, Qatar’s ownership of Canary Wharf is just one piece of a much larger puzzle. The nation’s expansion beyond this iconic wharf showcases its broader goals and the extent of its ambitions in the global economy.
Question-answer:
What is the ownership status of Qatar in Canary Wharf?
Qatar currently owns a significant stake in Canary Wharf, with a 28.5% ownership stake in the property.
How did Qatar acquire its stake in Canary Wharf?
Qatar acquired its stake in Canary Wharf in 2015 through its sovereign wealth fund, the Qatar Investment Authority (QIA). They purchased their stake from the Canadian company Brookfield Property Partners.
Why did Qatar choose to invest in Canary Wharf?
Qatar chose to invest in Canary Wharf due to its reputation as a prominent financial district in London. The area offers attractive investment opportunities and a strong potential for capital appreciation.
Are there any other Qatari investments in London?
Yes, Qatar has made several other investments in London. For example, they own the luxury hotel The Savoy, the department store Harrods, and the Olympic Village.
Is Qatar planning to increase its stake in Canary Wharf?
There haven’t been any official announcements regarding Qatar’s plans to increase its stake in Canary Wharf. However, Qatar has shown a continued interest in real estate investments, so it’s possible that they may consider increasing their stake in the future.
What is the ownership of Canary Wharf?
Qatar is the majority owner of Canary Wharf, a commercial district in London, UK. The Qatar Investment Authority, the country’s sovereign wealth fund, owns a 95% stake in the district’s owner, Songbird Estates.
How did Qatar acquire the ownership of Canary Wharf?
Qatar acquired the ownership of Canary Wharf through a series of investments. In 2009, the Qatar Investment Authority, together with its joint venture partner Brookfield Property Partners, acquired a majority stake in Songbird Estates, the owner of Canary Wharf. Since then, Qatar has gradually increased its stake in Songbird to become the majority owner.
What is the significance of Qatar’s ownership of Canary Wharf?
Qatar’s ownership of Canary Wharf is significant for several reasons. Firstly, Canary Wharf is a major financial district in London and its ownership by Qatar showcases the country’s influence and presence in the global financial market. Secondly, Qatar’s investment in Canary Wharf has helped to strengthen and diversify the district’s economy, creating jobs and attracting businesses. Lastly, Qatar’s ownership of such a prominent landmark showcases the country’s commitment to long-term investments and strategic partnerships.
Are there any controversies or concerns regarding Qatar’s ownership of Canary Wharf?
There have been some controversies and concerns regarding Qatar’s ownership of Canary Wharf. One concern is the influence that Qatar may have over the development and management of the district, potentially shaping it to fit its own interests rather than those of the local community or city. Additionally, some critics argue that Qatar’s investment in Canary Wharf is a form of “soft power” used to gain political influence in the UK and strengthen its global position. However, supporters of Qatar’s ownership argue that the investment has been beneficial for the district and has helped to drive economic growth.