Qatar's HBJ Considers £370 Million Sale of High-End London Properties
- Publish date: Monday، 21 August 2023
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Sheikh Hamad bin Jassim bin Jaber Al Thani, the former Prime Minister of Qatar, is rumored to be contemplating the sale of his two lavish London residences for a combined asking price of £370 million.
The sale includes a penthouse in One Hyde Park for £220 million and a property on Belgrave Square for £150 million.
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The reported interest of Sheikh Hamad's possible property sale comes as London's prime property market is experiencing a slowdown. Sales of homes worth £5 million or more fell by 26% in July compared to the same period last year, and the number of such deals collapsing rose by 15% between January and July.
The proposed sale of Sheikh Hamad's London properties could be a sign of weakening confidence in the UK's luxury housing market. Earlier this year, London's most valuable house, The Holme, was listed for £300 million. If it sells at the expected price, it would set a new record for the largest property transaction in the UK.
The secretive nature of London’s ultra-prime housing market enables agents to approach potential buyers through private channels, frequently using WhatsApp.