Qatari Royal Sells £39 Million London Mansion To Fellow Royal (image@MBA_AlThani_)Sheikh Mohammed, Qatar’s Prime Minister and Foreign Minister sold his Mayfair mansion to another royal family member last year. It was called to be the biggest property deals of London. Sheikh Mohammed bin Abdulrahman Al Thani sold his grade II-listed mansion for £39 million. He bought the mansion in 2021. The new owner of the mansion is not known.
The property was one among the handful that were sold for more than £30 million in London last year. The £65 million Chelsea mansion bought by United Arab Emirates President Sheikh Mohammed bin Zayed Al Nahyan in November is also among the list.
People familiar with the matter told Bloomberg that Sheikh Mohammed’s former property was converted into apartments in the 1990s, a layout that was retained to this day.
Though the global central banks has decided to increase interest rates and London is preparing to toughen its tax rules for rich foreigners, the high-end property market in Britain’s capital is still going strong, though sellers have had to lower their ambitions when it came to price.
Over the years, Mayfair has been nicknamed as ‘Little Doha”, due to the increased real estate engagements done by the Qatari elites. The owner of the Ritz Hotel and the brother-in-law of Qatar’s ruler, Abdulhadi Mana Al-Hajri bought a £37.5 million townhouse, which is at a short walk distance from Sheikh Mohammed’s recently sold house.
Mayfair was one of the most popular neighbourhood last year for its £5 million-plus deals in London, which makes up 8% of these transactions, as per broker Savills Plc. However, some property owners, including the other Qatari royals who owns swathes of industry in their hometown, have considered selling their mansions in London during past 12 months. According to Hamptons International, the share of the Middle Eastern buyers purchasing homes in central London’s most affluent place has dropped to 5 % from 2019’s 10%.
(with inputs from agencies)