The sovereign wealth fund of Qatar acquired a 20 per cent stake in Chelsfield, the London property group, yesterday, in the latest UK foray by wealthy Gulf investors.

Chelsfield, which owns Camden market in North London, declined to say how much the Qatar Investment Authority (QIA) had paid for the stake, although it is thought to be less than £80million. A spokesman said that the funds would allow the group to capitalise on opportunities as property prices fall.

Elliott Bernerd, who co-founded Chelsfield with Sir Stuart Lipton, said: “They are long-term investors and we both believe that there are considerable opportunities that will become available due to the present market conditions.”

Chelsfield said that the Qataris would gain two seats on its management board. Hussain al-Abdullah, executive board member of the QIA, said: “Property represents a core asset class for the QIA and our investment in Chelsfield offers a valuable opportunity to acquire further high-quality assets.”

Established in 2003 to diversify Qatar's oil wealth, the QIA has spent billions of pounds in the London property market. In February it acquired a stake in Chelsea Barracks for £600million. It also owns a £1.6billion share in the Shard of Glass office development at London Bridge.

The QIA holds 27 per cent of J Sainsbury, 8 per cent of Barclays Bank, 15 per cent of the London Stock Exchange and 15 per cent of Songbird Estates, which has extensive interests in Canary Wharf. The QIA, which is thought to have more than $60billion (£33billion) to invest, is led by Sheikh Hamad bin Jassim bin Jabr al-Thani, the Qatari Prime Minister. Qatar, which has a population of fewer than one million, holds 1.3per cent of global crude oil reserves.

A spokesman denied that the Qatari investors had been brought on board as a response to the slide in the British commercial property market.

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