QIA will support London’s Canary Wharf says CEO

QIA will support London’s Canary Wharf says CEO

Qatar Investment Authority (QIA) will continue to support London’s Canary Wharf Group (CWG) project as a long-term shareholder, CEO Mansoor Al Mahmoud has confirmed. The sector contains “a little bit of risk” because of the “leverage and cost of funding,” he told Bloomberg Television at the World Economic Forum in Davos. However, the fund has […]Qatar Investment Authority (QIA) will continue to support London’s Canary Wharf Group (CWG) project as a long-term shareholder, CEO Mansoor Al Mahmoud has confirmed.

The sector contains “a little bit of risk” because of the “leverage and cost of funding,” he told Bloomberg Television at the World Economic Forum in Davos.

However, the fund has no plans to exit the project, Al Mahmoud added.

The $450 billion sovereign wealth fund and Canada-headquartered Brookfield committed to invest £400 million into the developer of London’s dockland financial district last year.

The proceeds were planned for use in the strategic repositioning of Canary Wharf and build out additional residential and life sciences projects on the estate, CWG said in a statement issued in October 2023.

CWG owns a high-quality portfolio comprising 33 properties, with 3,500 people living at Canary Wharf and over 54 million visitors last year.

As of June 30, 2023, Canary Wharf