Qatari Sheikh Hamad bin Jassim bin Jaber Al Thani, whose son is leading a bid for Manchester United Football Club, is contemplating the sale of two prestigious London residences, commanding a combined asking price of £370 million ($470 million). In this potential transaction, Sheikh Hamad may divest a triplex penthouse situated within the One Hyde Park development in the upscale Knightsbridge district, with an approximate price tag of £220 million, as well as a neighboring property on Belgrave Square, which he owns, valued at approximately £150 million, as confirmed by sources familiar with the matter.
It is worth noting that Sheikh Hamad may opt against the sale if offers fail to meet the specified asking price, according to these sources. Efforts to reach the royal for comment through his private investment firm, Al Mirqab Capital, as well as several family members, have proven unsuccessful.
Sheikh Hamad, the former head of the Qatar Investment Authority and a former prime minister of Qatar, ranks among the most prominent investors in the Middle East. He is a key shareholder in German lender Deutsche Bank AG and, during his tenure at the Qatar Investment Authority (QIA), the sovereign wealth fund amassed substantial stakes in prestigious European entities, including Glencore Plc, Barclays Plc, and the luxury department store Harrods.
With close ties to King Charles, Sheikh Hamad earned the moniker “the man who bought London” from the British media, signifying his instrumental role in the significant expansion of Qatari interests in the UK capital since the early 2000s.
This potential sale of some of Sheikh Hamad’s opulent London real estate holdings follows his acquisition and refurbishment of Forbes House, a six-story property located just minutes away from Buckingham Palace.
Given the discreet nature of London’s ultra-prime housing market, agents typically discreetly explore potential buyers within their private networks, often using platforms like WhatsApp. This approach allows sellers to gauge pricing options without leaving a digital footprint, ensuring flexibility if they decide to re-market the properties at a later date.
While London’s luxury housing market has encountered pressures this year, particularly due to elevated financing costs, it is noteworthy that the market’s elite properties continue to perform relatively well compared to lower-tier deals. According to LonRes, the number of deals exceeding £5 million that collapsed increased by 15% between January and July, compared to the same period the previous year.
The less debt-dependent nature of London’s luxury housing market has enabled the wealthiest individuals to continue securing deals. A separate report by broker Knight Frank revealed that 17% of ultra-high-net-worth individuals acquired at least one property in the past year.
Savills Plc, a prestigious luxury estate agent, is reportedly collaborating with Sheikh Hamad on the potential sale of both properties, although the firm declined to comment. The penthouse overlooking Hyde Park, developed by the billionaire in partnership with CPC Group, owned by Christian Candy, is adjacent to the Mandarin Oriental hotel and just a short stroll from Harrods.
Additionally, Becky Fatemi, the founder of super-prime brokerage firm Rokstone, is said to be assisting the royal in the sale of the Belgrave Square property, designed by architect George Basevi in the 19th century. Fatemi, however, did not respond to requests for comment.
