Qatari Tycoons Consider Selling Luxury Townhouse in London’s Mayfair
8 September 2023
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The Qatar-based Al-Khayyat family, which owns swathes of industry in the gas-rich Gulf state, is considering the sale of a luxury property in one of London's most exclusive districts. The family, whose portfolio includes a construction giant that helped build Qatar's largest mall and dairy producer Baladna , is potentially planning to sell one of Mayfair's largest townhouses on 38 Hill Street, which is currently sitting empty, according to people familiar with the matter, who asked not to be identified because it's private.
Better known as the Naval Club, the Georgian property was a private members' club for the best part of a century, before the Al-Khayyat family purchased it for about £28 million in 2021, down from an initial guide price of roughly £35 million ($43.6 million). The mansion will provide a test for London's luxury property market, which is under siege from high financing costs.