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W Hotel in London is Sold to Qatar’s Al Faisal

Al Faisal Holding, which is headquartered in Qatar and owned by the member of the royal family, is the new owner of the famous W hotel in London. The property was sold by the developer from Northern Ireland McAleer & Rushe. The sum of the deal estimates 200 million of pounds or US$318 million.

The famous hotel is located on the corner of Wardour Street and Leicester Square. The 10-storey hotel has 192 guestrooms, 11 serviced apartments, a huge 35,000 sq. ft. M&M’s shop and a restaurant awarded with Michelin star.

The hotel was on sale starting from this year’s January. The seller of W Hotel was Jones Lang LaSalle.

Al Faisal Company is run by the members of the family, who has founded this organization. The sphere of its interest is rather wide – from information technology to entertainment industry and construction. It also helps the investors from the Gulf to find attractive overseas assets.

Qatar investors pay particular attention to properties in the UK as this is not the first large purchase in this region. Last year another Qatar company became the owner of the internationally famous Harrods department store in London. The sum of the deal reached £1.5 billion (US$2.3 billion).

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