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Sovereign Wealth Funds Briefing - Categorized | Investment

Qatar joins Brookfield’s $8.6b Manhattan west project

Posted on 30 October 2015

Brookfield Property Partners LP and Qatar Investment Authority formed a joint venture on Manhattan West, an $8.6 billion (Dh31.6 billion) mixed-use project under construction on New York’s far west side. Plans for the 650,000-square-metre development call for five buildings, including a 62-story, 844- unit residential tower that’s already in progress and a 67-story office skyscraper that will be anchored by the law firm Skadden, Arps, Slate, Meagher & Flom LLP and is scheduled for completion in 2019.
Qatar Investment Authority will acquire a 44 per cent stake in the project, the companies said in a statement Wednesday. The deal expands the sovereign wealth fund’s global investments, which include acquisitions this year of London’s Canary Wharf Group and parent Songbird Estates Plc, both in partnership with Brookfield………………………………………..Full Article: Source


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