Qatari royals on London spending spree | CNBC International

It's the royal family buying up some of London's most prestigious and expensive homes. And Queen Elizabeth isn't its matriarch. Instead, it's the Qatari royal family who are on a spending spree in the capital. Shik Hammad bin Khalifa Alani and his family have just purchased a 10,000 square foot six-story mansion. According to reports in London's Evening Standard newspaper, price tag for the mansion in Mayfair, a cool $62 million. It's the latest in a string of high-profile purchases by the Alani family. The Qatari Royals also own Dudley House around the corner at 100 Park Lane. The home is more than 47,000 square ft with 17 bedrooms and a 50 ft ballroom. Today, it's valued at over $400 million. The Althani family, who calls Queen Elizabeth a friend, also own two other large mansions on neighboring Park Street and Davy Street. Apart from the Qatari royals themselves, the country's sovereign wealth fund owns large commercial properties in the city. They bought up the US embassy building in Grooner Square, the Chelsea barracks, Canary Wararf, as well as the tallest building in the country, the Shard. Qatar's consolation hotels group also have control over the famous Conot Berkeley and Clarages. No word on whether any offers have been made for Buckingham Palace just yet. Phil Han, CNBC London.