A Qatari investor has paid more than €300m for part of a building in Paris which used to be the headquarters of the French army.
The buyer of the building on boulevard Saint-Germain, in the city’s seventh district, is believed to be the Qatar Investment Authority sovereign fund.
Financial details were not disclosed by the seller, which is the French state. The General Directorate of Public Finance also did not confirm the identity of the buyer to Agence France Presse.
Reports in France say the asset was sold in a tender process won by Constellation Hotels, which Qatar Holding owns via backing from the Qatari royal family.
The acquisition comprises six buildings located on rue de l'Université and boulevard Saint-Germain, near to the national assembly site. The former office of the chief of staff of the French army looks set to be converted into a luxury hotel.