Qatar is reviewing its investments in London after the town’s transport authority banned the nation’s adverts on buses, taxis and underground trains, it was reported.
The transfer by Transport for London (TfL) is known to be linked to considerations concerning the World Cup hosts’ human rights file, stance on homosexuality and therapy of migrant staff.
An individual concerned within the Qatari evaluate of London investments advised the Monetary Occasions that TfL, which is chaired by the town’s mayor, Sadiq Khan, contacted Q22, the physique overseeing the World Cup, and Qatar’s tourism authority this week to tell them concerning the ban.
In response, Qatar was “reviewing their present and future investments” in London and was “contemplating funding alternatives in different UK cities and residential nations”, the individual concerned within the evaluate advised the newspaper.
The supply added that the TfL ban “has been interpreted as a message from the mayor’s workplace that Qatari enterprise will not be welcome in London”.
The Gulf state has turn into certainly one of largest traders in London by way of its sovereign wealth fund.
Earlier this month, the Observer reported that the state of Qatar alone, not counting particular person royals’ private holdings, is the tenth largest landowner within the UK, in line with analysts at MSCI Actual Property.
The emirate owns almost 2.1m sq metres (23m sqft) of property in Britain.
Among the many properties within the portfolio of the Qatar Funding Authority are division retailer Harrods in Knightsbridge; Britain’s tallest constructing, the Shard, which was constructed with almost £2bn of Qatari funding; Forbes Home mansion; Chelsea Barracks; and the Savoy and Grosvenor Home inns.
Additionally it is a co-owner of Canary Wharf and has a 20% stake in Heathrow airport.
In Could, the Gulf state pledged to take a position £10bn over 5 years within the UK together with within the know-how, healthcare, infrastructure and clear vitality sectors.
A spokesperson for Khan advised the FT the mayor was not concerned in day-to-day choices relating to promoting on the town’s transport community.
A TfL spokesperson stated it had supplied “promoting companions and types with additional steerage” on acceptable promoting throughout the World Cup.