Qatari sheikh sells Hyde Park mansion to fellow Royal for £39m
Transferring a luxury property between family members could be to take advantage of tax benefits or to avoid certain taxes associated with inheritance or property ownership.
The Qatari prime minister sold his Mayfair mansion to a fellow member of the Gulf state’s royal family last year, in what was one of London’s biggest property deals of 2023.
Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani sold the Grade II-listed mansion which he bought in 2021 for £39m, according to Bloomberg, citing people familiar with the matter.
Indian vaccine billionaire Adar Poonawalla closed the most expensive deal on a home, paying £138m for a 25,000 square foot mansion in Mayfair last year.
While Sheikh Mohammed bin Zayed Al Nahyan, the president of the United Arab Emirates, paid £65m for a property.
The sources said Sheikh Mohammed negotiated directly with the fellow royal on the sale but the new owner of the home situated between Hyde Park and Berkeley Square is unknown.
Transferring a luxury property between family members could be to take advantage of tax benefits or to avoid certain taxes associated with inheritance or property ownership.
Sheikh Mohammed was appointed prime minister of the gas-rich Gulf state last year while continuing as foreign minister.
The TIME magazine has recognised him as one of the ‘100 Most Influential People’ in the world for the year 2024 due to his role in the negotiations between Hamas and Israel.
Sheikh Mohammed could not be reached for comment. Qatar’s government media office has not responded to Bloomberg’s request for comment.
Over the years, Qatari elites have gobbled up a large portion of real estate in Mayfair, earning the area the nickname ‘Little Doha’.
According to Savills, Mayfair emerged as one of the prime neighbourhoods for deals worth at least £5m in London, comprising eight per cent of such transactions in 2023.
But some of the capital’s most lavish mansions are struggling to sell as the super-prime property market battles higher interest rates and as billionaires increasingly turn to renting.
