ISO 9001:2008 CERTIFIED NEWSPAPER Friday 29 March 2013 17 Jumada I 1434 - Volume 18 Number 5653 Price: QR2 Fitch affirms Berki and Ooredoo at A+; Zanetti bag Outlook Stable gold medals Business | 13 Sport | 22 www.thepeninsulaqatar.com
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[email protected] Editorial: 4455 7741 | Advertising: 4455 7837 / 4455 7780 Deputy Emir honours outgoing Lebanese envoy Qatar-backed investor Govt urged to buys luxury London hotel in $605m deal liberalise work LONDON: Qatari-backed investor Constellation Hotels has bought the InterContinental London Park Lane hotel in a deal worth about £400m ($605m), a source close to the transaction visa policy told Reuters. Constellation paid £301.5m for InterContinental Hotel Group’s (IHG) 57-year lease on the 447-bedroom property close to Hyde Park, IHG said yesterday. Manpower agencies facing crunch In a separate deal, Constellation paid about £100m for the freehold, which was owned by the DOHA: Construction industry One of the reasons, accord- Crown Estate, the property company that con- insiders say they anticipate the ing to sources in the manpower trols the assets of Queen Elizabeth II, the source onset of a ‘real’ boom next year recruitment business, is liter- said. The £301.5m price tag is 62 percent above the when the launch of mega devel- ally an exodus of semi-skilled hotel’s book value. opment projects begins making Nepalese workers to Malaysia and Under the terms of the deal, it will manage the an impact, but insist the gov- South Korea, since pay is quite hotel for up to 60 years for an annual fee of about ernment should liberalise its high in those countries.