The Qatari royal family is poised to acquire the building which will house Italian fashion label Valentino’s new flagship store in Rome, PropertyEU has learned.
The Qatari royal family is poised to acquire the building which will house Italian fashion label Valentino’s new flagship store in Rome, PropertyEU has learned.
Mayhoola for Investments, a Qatari investment group controlled by the royal family, is in advanced talks to buy the store located in Rome’s central Spagna square for around €40 mln, according to well-informed market sources.
The vendor is financial services group American Express.
The acquisition, expected to close in late September, confirms the Qataris’ taste for luxury goods businesses. In July last year, Mayhoola bought Valentino from private equity firm Permira for some €700 mln.
Also in Rome, the Dorchester Group - part of the Brunei Investment Agency - has signed the purchase of Hotel Eden for around €105 mln. The vendor is hotel group Starwood Hotel & Resorts.
Closing is expected for December this year.
The Brunei Investment Agency already owns the Principe di Savoia hotel in Milano.
