The government of Qatar has purchased the Four Seasons Hotel Cairo at The First Residence, in Egypt, from First Arabia Company for US$250 million.

The 269-room hotel is at the centre of the city's prestigious First Residence apartments and shopping centre, on the west bank of the River Nile. The transaction is reported to be part of Qatar's strategy to consolidate and enhance its investments in the North African country.

More news regarding the State of Qatar was released this week. According to The Times, Doha-based Qatar Investment Authority (QIA) is reported to be in talks to buy a third-share of the 268-room Savoy in London.

The Savoy is due to reopen on 10 October 2010 after undergoing an extensive renovation and restoration programme costing more than £100 million.

QIA is also believed to be one of the final bidders in the £500 million-plus auction of the 494-room Grosvenor House, A JW Marriott Hotel in London.

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