Qatar First Bank
You could say Qatar First Bank has a thing for America. In May, QFB said it acquired its seventh real estate investment in the US, part of a strategy to increase its global footprint and exposure to the West.
It’s all part of an investment plan that dates back to 2017 when QFB shifted its business model from one based on assets to a fee-income strategy. A key plank of identifying opportunities in the US is tied to demographics and what its in-house research team deems as having strong fundamentals.
QFB’s focus to date has been on the Sun Belt, a region of the US typically associated with largely Republican voters. These ‘red’ states tend to offer lower taxes and business-friendly regulatory environments.
In the last year, QFB has added four US commercial real estate buildings to its portfolio. These include the Waterway Plaza, where Huntsman International has its headquarters, in Woodlands, Texas. Another acquisition was the Grand 2 at Papago Park in Tempe, Arizona. The 358,800 square foot structure is 100% leased to food delivery giant DoorDash.
Just outside Dallas, it picked up the Varsity Brands building, and in Bellevue, Washington, it bought 90 North Corporate Campus.
QFB