Qatar set to acquire Sardinia’s Costa Smeralda

Qatar set to acquire luxury Sardinia assets

Qatar continues the recent buying spree. The Middle East state made a name as an international investor by acquiring stakes in household name companies like Porsche, Paris Saint-Germain or French luxury goods group LVMH. The new assets spotted by Qatar’s sovereign wealth fund are situated on the Italian island of Sardinia, where former Italian prime minister Silvio Berlusconi owns a well-known villa.

The portfolio of luxury properties include a number of five-star hotels and a golf club, currently held by US property magnate Tom Barrack, whose Colony Capital fund acquired Smeralda for a reported €290m (US$380m) in 2003.

According to Italian media, Qatar Holding will purchase Smeralda Holding, whose assets on the island include four five-star hotels, the world-class Pevero Golf Club and a marina with 700 yacht berths.