Mubasher: QINVEST on Sunday announced investing in Barcelona-based OneOcean Port Vell.

The investment was carried out through QINVEST’s wholly-owned subsidiary BOH LLC and was made in conjunction with an investment partner, the Qatari leader in private investment and one of the region’s most prominent Islamic financial institutions said in a statement.

“QINVEST will work with the city and port authorities in Barcelona to increase the profile of the marina by investing additional resources in the port infrastructure,” QINVEST highlighted.

Commenting on the deal, QINVEST CEO Tamim Hamad Al-Kawari noted that having supported the Spanish marina for a number of years, QINVEST is “pleased to be leading the new ownership of One Ocean Port Vell.”

The top official described the Spanish marina as “one of the most prestigious marinas in the region and situated in one of Europe’s leading cities,” indicating that the investment will have a positive impact on QINVEST in the future.

“OneOcean Port Vell is a valuable asset which has significant potential for growth and we are committed to working hand-in-hand with the relevant authorities…to support its continued development and success,” stated Craig Cowie, QINVEST’s head of real estate investment and advisory.

OneOcean Port Vell is QINVEST’s second investment in Spain in 2017 after the Qatari firm invested in a Spanish real estate strategy focused on land developments in Madrid, Barcelona, Valencia and Marbella.

“The objective is to acquire well-located residential land parcels across Spain and develop residential for sale apartments for first home owners,” QINVEST concluded.