DOHA - As the energy-rich Gulf state diversifies its global stakes, Qatar plans to invest $35 billion over the next five years in the United States, its sovereign wealth fund said Monday.
The Qatar Investment Authority revealed its U.S. investment plans in a statement announcing the opening of an office in New York.
The office will enable QIA to develop and expand its global investment portfolio.
QIA said it also "remains committed to its investments in Europe, Asia and the Middle East," while the New York office "facilitates access to significant investment opportunities."
Qatar's portfolio -- valued at between $256 billion and $334 billion - includes significant stakes in British supermarket chain Sainsbury's and the London Stock Exchange, as well as owning Harrods department store and the Shard skyscraper in the capital. Also last year the fund, along with other investors, agreed to buy American Express Co.’s business-travel division for $900 million.
Copyright Agence France-Presse, 2015
