Qatar Islamic Bank Hosts Exclusive Preview of the Knight Frank 2016 Wealth Report

20/04/2016, Doha, Qatar

For the second year running, Qatar Islamic Bank (QIB), Qatar’s leading Islamic Bank, invited world-renowned property consultants Knight Frank to present a special preview of the 2016 edition of the Wealth Report to an exclusive group of the Bank’s high-net-worth clients. The Wealth Report is Knight Frank’s leading research report that tracks the growing affluent population in 98 cities across 91 countries.

Organized in conjunction with QIB-UK, a wholly-owned subsidiary of QIB headquartered in London, the event featured speakers and panelists from QIB, Knight Frank and London-based law firm Fieldfisher. This event is part of QIB’s continuous efforts to inform its clients of the latest market news and to assist ultra-high-net-worth individuals (UHNWIs) in diversifying their investment portfolios.

“QIB and QIB-UK are pleased to join with Knight Frank in offering an advance viewing of this year’s Wealth Report,” said Mr. D Anand, General Manager of the QIB’s Personal Banking Group. “Real Estate constitutes a sizable portion of our high-net-worth clients’ investments, making the results shared by Knight Frank extremely valuable. The Wealth Report is for anyone tracking trends in wealth creation and the global property market.”

Founded in 1896, Knight Frank offers global residential and commercial property advisory services. With 417 offices in 58 countries across the globe, Knight Frank is one of the world’s largest property consultancies. The firm provides research-backed advice and transactional support to major developers and to individual and corporate investors. Now in its tenth year, the Knight Frank Wealth Report documents the performance of prime property and examines how the global property market interacts with wealth creation.

Jeremy Waters, London-based partner in Knight Frank’s Global Capital Markets division and a member of the firm’s Middle East Board; “We are proud to work closely with QIB in Qatar, in London and across International markets in both commercial and residential. Both QIB and Knight Frank recognise the importance of professional advise based on a strong research base and we were delighted to present this year’s Wealth Report in Doha and to provide advice on the key global markets.”

Tom Bill, Head of London Residential Research for Knight Frank, took the stage to present the key findings from the 2016 Wealth Report. He addressed broader issues shaping how UHNWIs are using their wealth, citing widespread concerns about wealth taxes, succession and inheritance issues, and changing attitudes towards philanthropy. He highlighted current trends among UHNWIs in luxury investments, such as furniture, art, classic cars, and jewellery.

Mr. Bill concluded his intervention by discussing the market outlook for prime London property. Knight Frank expects that London will remain a destination for UHNWIs looking to invest in property, as global volatility drives demand to established (rather than developing) markets. Mr. Bill discussed the impact that British politics have had on London real estate, saying that although short-term risks have polarized the local property market, London continues to be a good prospect for long-term investments.

Mr. Bill moderated a panel discussion during which panelists addressed issues of concern to Qatari investors looking to buy or sell retail or commercial property in London and in depth discuss about the latest tax regulations peered by Mrs. Vivien Davies, a partner with London based law firm – Fieldfisher. After the panel, representatives from QIB-UK, Knight Frank and Fieldfisher made themselves available to answer the attendees’ questions.

“QIB helps its clients make well-informed decisions about their wealth by offering timely market insights and best-in-class financial advisory services,” said Mr. Anand. “As such, events like today’s preview of the Wealth Report are an important part of our private customer service strategy. We offer our sincere thanks to Knight Frank, Fieldfisher, and our esteemed customers for making this event possible.”