Qatar’s Prince bags €200 million for selling Paris property to French billionaire

Qatari Prince Abdullah bin Khalifa al-Thani has sold for €200 million ($305 million) his mansion in the French capital to French billionaire Xavier Niel, in a transaction deemed one of the largest ever transactions for private property in the French capital, reports say.

The transaction for the 380-year-old Hôtel Lambert, which is a mansion, beats the €100 million reportedly paid for another property, the Hôtel de Soyecourt, Bloomberg reported.

The mansion, first built for financier Jean-Baptiste Lambert de Thorigny, has also been owned by Polish princess Anna Czartoryska and Guy de Rothschild.

The property is located on the edge of the Ile Saint-Louis, one of two natural islands in the Seine River in Paris. The Qatari bought the mansion in 2007 for €60 million.

Niel, the founder of French telecom group Iliad, is reportedly going to use the 43,000-square-foot property as a cultural foundation rather than living in it himself.

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