Qatari PM sells $49M London mansion to fellow royal

By Minh Hieu   May 10, 2024 | 05:44 am PT
Qatari PM sells $49M London mansion to fellow royal
Regent Street, Mayfair, London, UK in July 2022. Photo by Unsplash/Igor Savelev
Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani has sold his mansion in Mayfair, London, to another member of the state’s royal family for £39 million (US$48.7 million).

The property was a Grade II-listed building located between Hyde Park and Berkeley Square, UAE-state-owned newspaper The National reported.

Grade II-listed buildings are those deemed to be of special interest, warranting special effort to preserve them, according to U.K.-based property consultancy Bidwells.

The mansion was purchased by Sheikh Mohammed in 2021 for close to £45 million.

He finalized its sale last October through direct negotiations with his fellow royals, a common practice among ultra-wealthy families to circumvent agency fees or mitigate potential inheritance tax liabilities.

Sheikh Mohammed became Qatar’s prime minister just last year and has also been serving as the state’s Minister of Foreign Affairs since 2016.

He is a member of the House of Thani, Qatar’s royal family, whose assets are worth at least $150 billion, as estimated by the Bloomberg Billionaires Index.

The Qatari prime minister’s mansion sale stood out as one of the few real estate transactions in London valued at over £30 million last year, according to Bloomberg.

Last November, United Arab Emirates President Sheikh Mohammed bin Zayed Al Nahyan, an Emirati royal, acquired a mansion in the city’s Chelsea area for £65 million.

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