Here’s what’s happened since last week’s updates.
Qatar has agreed to buy one of New York’s most iconic buildings, the Plaza Hotel, for around $600 million which was once owned by U.S. President Donald Trump.
Qatar’s state-owned Katara Holding is to buy full ownership of the hotel, including a 75 percent stake from Indian business group Sahara India Pariwar, Reuters reported.
This is the largest investment in the Western property market by Qatar since the blocked in June last year.
In 1988, Donal Trump bought this Plaza, but had to sell it to a group of investors including Saudi businessman Prince Alwaleed bin Talal more than two decades ago as part of a bankruptcy proceeding.
The Plaza is noteworthy for hosting visitors like the Beatles and Marlene Dietrich, who performed there. It also hosted marriage ceremony of Trump' Marla Maples in 1993.
The UAE Ministry of Foreign Affairs and International Cooperation says in a statement that Qatari citizens already resident in the UAE are not required to apply for permission to continue residence in the UAE. However, all Qatari citizens resident in the UAE are encouraged to obtain prior permission for re-entry into UAE territory.
"All applications for entry clearance may be made through the telephone hotline announced on June 11, 2017 (+9718002626),” said a statement by the ministry.
The Amir HH Sheikh Tamim bin Hamad al Thani will pay an official visit to France on Thursday.
Discussion on the prospects of developing close cooperation between Qatar and France will hold during this visit. The Amir and French President Emmanuel Macron will also discuss several regional and international issues, Qatar Tribune reported.
During the visit, the Amir will meet with a number of senior French officials as well as a number of agreements will be signed in different fields.
It is worthwhile noting that France is the seventh-largest economic partner of Qatar. Doha is one of France's leading trading partners in the Gulf region and an attractive destination for French companies looking to invest in the region. More than 200 French companies investing in various segments of the Qatari market.
What are your thoughts on these latest developments in the ongoing GCC Crisis? Drop us a line and tell us your thoughts in the comments below, and don’t forget to like and share this article.
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