Middle East Elite to Buy Irish Hotels for Stud Farms?

Has is come to this?…

Middle East funds look to Irish stud farms

By Neil Callanan in Dublin

Published: April 25 2011 21:01 | Last updated: April 25 2011 21:01

Middle Eastern sovereign wealth funds have approached Ireland’s National Asset Management Agency, looking to buy high-end hotels with large grounds for use as stud farms for horses, government insiders in Dublin say. The move could provide a boost to Ireland’s flagging bloodstock industry, which produces 10 per cent of the world’s racehorses each year.

Nama has already been approached by at least two sovereign funds seeking to buy hotels, a senior government insider said. They are “not interested in them as hotels but as houses”, while their real interest lay in the land around them “for use as bloodstock”, the official said.  (link to article)

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