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Mayor of Milan has no plans to halt Qatari investments in the city

June 7, 2017 at 12:53 pm

The mayor of Milan, the financial capital of Italy, has said that there are no plans to halt Qatari investments in the city, Anadolu reported on Tuesday. Giuseppe Sala made his comments on Italian TV when asked whether the Arab siege on the Gulf State would have any effect on its investments in the city.

“There is no change in the investments,” explained Sala, “as Qatar has a number of properties in Milan, including commercial hotels and malls operated through its sovereign fund.”

Official Italian data shows that the value of Qatar’s investments in Italy is put at $6 billion. This figure includes the Porta Nuova neighbourhood in Milan with all of its commercial facilities, which is valued at $2.15 billion. According to the data, Qatar bought the Westin Excelsior Rome Hotel for $250 million two years ago and the building occupied by Credit Suisse Bank in the heart of Milan, valued at $112 million.

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Asked about the allegations that Qatar supports terrorism, Sala said that the issue is linked to a national political issue. “I do not dare to speak about it because it is complex,” he said. “Prior to any comment, there must be enough knowledge. However, I am waiting to see what the Italian government is going to decide in this regard.”

Qatar has denied all of the allegations against it, and insists that the measures adopted by the likes of Saudi Arabia, the UAE and Egypt are intended to undermine the independence of the Gulf State. The government in Doha stressed that this is “absolutely unacceptable.”