The Qatar 2022 World Cup has begun and the whole planet is looking at this sovereign Arab state. But beyond sports, Qatar has been investing in Barcelona with great interest since 2010.
In fact, it has contributed millions of dollars to the city thanks to the great fortune that the Arab country possesses.
Qatar is located in the Persian Gulf and has amassed an enormous fortune and consolidated wealth through its large investments in real estate and holdings in foreign companies. These include London’s Heathrow Airport and even the Empire State Building in New York.
But the investments of the Qatari empire have also made their presence felt in Barcelona.
Qatar invests in Barcelona?
Of course it is. Qatar’s first involvement in the Catalan capital dates back to 2010 through one of the most publicized relationships: the sponsorship of FC Barcelona.
Thus, Barça began its commercial relationship when Sandro Rosell was President of the Club and Javier Faus, the economic vice-president.
By that time, an agreement was reached with Qatar as the team’s sponsor for 30-35 million euros per year under the Qatar Foundation brand (two years later it would be called Qatar Airways). The agreement entered into force in January 2011 and was extended until 2016.
In 2015 the figure was increased to €60 million per year, an agreement that was finalized under the FCB presidency of Josep Maria Bartomeu and Faus as vice president.
As it was a season full of success for Barça (they managed to win La Liga, the Copa del Rey and the Champions League), Bartomeu wanted to change the agreement and asked the Qataris for more money, however, they refused.
Qatar’s sponsorship continued until 2017, but the relationship with Barcelona’s management did not end well. Then Rakuten became the sponsor of Barça and lately the music platform Spotify.
Investments in real estate
Outside of sports, the Qatari empire also set its sights on Barcelona’s real estate sector. The first transaction was made in 2013 when they bought the Hotel W Barcelona (Hotel Vela) for a value of 200 million euros.
And the interest continued. A year later, the fund owned by the Qatari armed forces, QAFIP, bought the Renaissance hotel (112 Pau Claris street) for 78.5 million euros.
In April 2014, the most important investments arrive for both Barcelona and Spain.
At this time, the Qatar Investment fund acquired a 3.78% stake in Colonial, one of the most promising real estate companies in the country.
And in 2018, Qatar became a shareholder by buying a 22% stake in the company for €718 million. And these are just some of the most noteworthy investments.
