Qatar Investments in Spain Worth 21 Billion Euro

Oil-rich Qatar has splashed cash on Spanish sports, real estate, and the energy sector - Image Source: Pixabay

QATAR has invested €21 billion in Spain over recent years according to the Gulf State’s ambassador to Madrid, mainly in the property, sport, and energy sectors.

Speaking at an online webinar between the Qatari Businessman’s Association (QIA) and other officials, the Gulf State’s ambassador to Madrid Abdullah Bin Ibrahim al-Hamar announced that Qatar had splashed €21 billion on investments in Spain.

The large figure is primarily spread between the real estate, sports, and energy markets. Wealthy Qatari businessmen have muscled into Spain’s lucrative luxury property market as well as buying stakes in several high-profile sports teams. The Qatari Investment Authority (QIA) is currently the second-highest stakeholder in the Spanish stock exchange.

Meanwhile, there are currently 170 Spanish companies operating in Qatar – mainly in the fields of renewable energy and resources. Ambassador al-Hamar said that the Gulf State’s Madrid embassy was committed to strengthening ties with Spain, while Spain’s ambassador to Qatar Belen Alfaro Hernandez said that the microstate offered a “welcoming business environment” to Spanish companies.

She also emphasised the success of Spanish companies in implementing several projects in the areas of technology, innovation, and digitisation, as well as product quality, which Qatar could benefit from as it attempts to steer its economy away from oil dependency.

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Oisin Sweeney

Oisin is an Irish writer based in Seville, the sunny capital of Andalucia. After starting his working life as a bookseller, he moved into journalism and cut his teeth as a reporter at one of Ireland's biggest news websites. Since joining Euro Weekly News in November, he has enjoyed covering the latest stories from Seville, Spain and further afield - with special interests in crime, cybersecurity, and European politics. Anyone who can pronounce his name first try gets a free cerveza...