UAE sheikh puts Qatar skyscraper 'up for sale' as Gulf tensions continue

UAE sheikh puts Qatar skyscraper 'up for sale' as Gulf tensions continue
An Abu Dhabi sheikh is looking to sell the Dolphin Tower landmark in Doha, as tensions between the UAE and Qatar continue.
1 min read
11 September, 2017
Doha has seen a property boom over the past decade [Getty]

Abu Dhabi businessman Sheikh Hamdan Bin Zayed al-Nahyan is looking to sell a 25 story tower in Qatar, as a regional rift continues, pitting Doha against several Gulf neighbours, including the UAE.

The Emirati royal is seeking the sell Dolphin Tower, which is the Qatari headquarters of natural gas supplier Dolphin EnergyReuters has reported.

The news agency said that Nahyan's al-Ain Properties appointed real estate company DTZ Qatar to market the tower at some point in the past two months.

It comes as a blockade of Qatar was launched in June by a Saudi-led bloc - including the UAE, Egypt and Bahrain - accusing the emirate of supporting extremist groups.

Doha has vehemently denied the accusations made by the bloc and claimed Riyadh and Abu Dhabi were trying to force Qatar into a "state of trusteeship" through the blockade.

Qatar is one of the world's biggest gas producers and appears to have weathered the crisis.

Dolphin Energy supplies around 2 billion cubic feet of gas from Qatar to the UAE every day, through an extensive pipeline.

Abu Dhabi-run Mubadala Development Co. has a 51 percent stake in Dolphin, while Total and Occidental own the remainder.

Dolphin Tower is expected to sell for around $26 million.