April 12, 2016
Sheikh Khalifa bin Zayed bin Sultan Al-Nahyan owns a list of luxury property in London longer than his name. And now we know exactly what and where that property is thanks to the Panama Papers. IBTimes UK headed to Mayfair to get a feel for just how much property Al-Nahyan owns in the city.
Al-Nahyan is emir of Abu Dhabi and president of the United Arab Emirates (UAE), the oil-rich Gulf state known for the lavish spending and ostentatious displays of wealth of its ruling class. He and his family are worth billions. The Forbes rich list puts his net worth at around £16bn ($23bn). Like any self-respecting member of the financial elite, he owns property in some of London’s most exclusive postcodes — an empire of more than 250 properties worth in the billions, it is estimated.
Al-Nahyan owns most of prestigious Berkeley Square, according to the Panama Papers and Land Registry records, including the garden in the middle of it all. And he owns huge chunks of the surrounding streets of Mayfair, such as Bruton Street, Bruton Place, Hill Street and Hay’s Mews.
Property prices in the area average at around £2m. According to Rightmove listings, that will get you a two-bedroom flat at best in Mayfair. Walk up to Oxford Street and Al-Nahyan owns a row of retail properties, home to the likes of high street favourites Zara and BHS. On New Bond Street, his retail space houses Chanel, the high-end fashion store.