The purchase of a construction company in Qatar will be a "successful investment" for the buyer, according to the law firm responsible for advising on the agreement.
With property in the UAE remaining popular, those with an interest in the emirate as a business hub are likely to be buoyed by the news that mergers and acquisitions are on the up again, according to Trowers & Hamlins, which guided the a consortium on the buy of Qatar Engineering & Construction Company (QCon) from Qatar Shipping.
The deal is said to be worth some $110 million (£67.41 million).
Abdullah Mutawi is corporate partner at the law firm and said it was "delighted" to have acted in this capacity for the "major" investment.
"The deal underscores our ability to execute complex and challenging deals in Qatar and demonstrates the enormous potential of the Qatari economy," he added.
Qcon was established 34 years ago and specialises in liquefied natural gas tank construction works.