(MENAFN) A report by Real Capital Analytics (RCA) ranked Qatar Investment Authority (QIA) as the second biggest sovereign buyer of European property in the last 12 months, spending USD4.3 billion on eight deals including the London Olympic athlete's village and a mall on Paris' Champs Elysees, Arab News reported.
Sovereign wealth funds like QIA view top-quality property in the best locations as a safe bet in the global financial crisis, Joseph Kelly, director of market analysis at RCA.
Qatar was surpassed as the biggest overall property investor in Europe by Blackstone, which spent USD4.93 billion on 19 deals, which included office blocks and industrial units, the data showed.
QIA has spent USD7 billion on real estate since 2007, investing mostly in London and Paris, RCA said.
The QIA has more than USD30 billion to spend on investments this year alone, an executive board member at the SWF said in April.
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