Sardinia’s Costa Smerelda to be bought by emir of Qatar

The 35 mile-long Emerald Coast – or Costa Smeralda in Italian – was an
undeveloped stretch of rocky coves backed by scrubby sheep pasture when it
caught the eye of the Aga Khan, the head of the world’s 15m Ismaili Muslims,
in the late 1950s while sailing his yacht.

He set about building a series of self-contained luxury resorts including the
‘capital’ of the region, Porto Cervo.

It boasts a glittering marina and expensive boutiques, bars and restaurants
which attract Hollywood stars, Russian oligarchs, supermodels, playboys and
wealthy yachties.

The region attracted publicity of a rather less welcome kind in recent years
when it was alleged that Mr Berlusconi invited starlets and models to “bunga
bunga” sex parties in his multi-million pound Villa Certosa estate.

The coast also hit the headlines in 2004 when a bandanna-wearing Mr
Berlusconi, who was recovering from a hair transplant, brought Tony and
Cherie Blair for a stroll around Porto Cervo during a long weekend spent at
his villa.

Qatar has been on a buying spree recently, raising its profile with the highly
publicised purchase of Paris Saint-Germain, the football team, and a stake
in the French luxury goods group LVMH.

The gas-rich emirate has previously made a name for itself as an international
investor by acquiring stakes in household name companies such as Porsche,
Sainsbury’s and Harrods, as well as the London Stock Exchange, Barclays Bank
and luxury hotel chains.

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