THE DAILY TELEGRAPH: Qatar's royal family has continued its worldwide spending spree with the purchase of a stunning Greek island.
The reported sale comes a month after the Qatari royals snapped up another picturesque slice of the Mediterranean – a portfolio of hotels on Sardinia's exclusive Costa Smeralda.
The 1,236-acre uninhabited island of Oxia in the Ionian Sea was bought for €5m (£4.1m). Previously owned by a Greek-Australian family, it had been on the market for close to €7m.
But the Qataris were apparently able to drive a hard bargain, arguing for a lower sale price because of increased property taxes recently introduced by the Greek government.
Oxia lies close to the fabled island of Ithaca, reputedly the home of Odysseus, the hero of Homer's Odyssey.
Part of it is protected as a nature reserve but the rest is open to development.
A spokesman for Qatar Holding, the sovereign wealth fund of the gas-rich state, declined to comment on the sale.
According to Vladi Private Islands, a specialist property company, Oxia was one of the most desirable Greek islands on the market. Read on and comment » | Nick Squires, in Rome | Wednesday, April 25, 2012
ARABIAN GAZETTE: Greek island bought off by Qatari royal family member – report » | Posted by Moign Khawaja in Arabian Biz! | Sunday, April 22, 2012
My comment:
Islam continues its relentless push westwards. It won't be long now before the whole world belongs to the Ummah. – © Mark
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