Reportedly, when the news arrived that Qatar might have unwittingly help bail out a skyscraper from New York owned by Jared Kushner’s family, who is son-in-law of Donald Trump, people from Doha were in a shock. Jared Kushner, a senior adviser of White House, was a close ally of Prince Mohammad Bin Salman of Saudi, a main architect of a provincial boycott counter to Qatar, which Riyadh indicts of subsidizing terrorism. The charge has been denied by Doha. The Qatari government has placed investments in a global property investor, Brookfield, struck a deal last year that rescued Jared Kushner Businesses’ tower of 666 Fifth Avenue from financial straits in Manhattan.
As per the sources, Doha has not played a single role in the bailout. Instead, it initially learned regarding the media, has encouraged to rethink about how Doha has financed money overseas through its massive sovereign wealth fund. The Qatar investment Authority will possibly goal to evade putting in funds has been decided by the country or no funds will be capitalized in the vehicles it does not take complete control over, the sources have reported, who are used to the tactic of Qatar Investment Authority.
Even one of the sources added that, Qatar began to observe into how exactly its name became involved into the contract and got to know it was due to a fund co-owned by itself. So, ultimately a renovated strategy was triggered by the Qatar Investment Authority. 666 Fifth Avenue was bailed out by Brookfield Asset Management Inc of Canada through its real estate Brookfield Property Partners, in which 9% stake was Acquired by the Qatari Investment Authority 5 years ago. The strategic shift of the QIA was completed previous year, as per the sources. As the Qatari Investment Authority in one of the largest state investors of the world, the renovation may have important consequences for the worldwide investment scene, through more than 320 billion dollars under administration.