A few months ago, Qatari investors acquired a portfolio of Greek commercial properties worth 125 million euros, including a package of five or six gigantic stores in major Greek cities. According to George Mantzavinatos, managing partner at Doha Properties WLL, his company served as the coordinator of all those purchases on behalf of the Qatari investors. The company located the properties and, with the consent of their previous owners, formed the portfolio. He noted that the properties have been bought by private Qatari investors and not necessarily by a state fund or Qatari royal family member. Doha Properties also participated in the tender for the Astir Palace Resort in Vouliagmeni, acting as a consultant for candidate investors from the Middle East. Mantzavinatos pointed out that Arab investors are highly interested in the Greek market and its vast investment potential. He noted that they demand that their purchases be conducted in secrecy. He added that Qatari investors choose to purchase properties in regions with energy and geopolitical interests, such as Greece. Current political instability and conflicts within Egypt, Syria, Iran and Iraq have turned Arab investors towards the Greek market. Investors are particularly interested in tourism projects and shopping centers. The Astir Palace investment by the Arab-owned Jermyn Street Real Estate Fund will likely make Greece even more attractive to investors from the Arab world.
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