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Posted On: 5 November 2009 01:05 pm
Updated On: 12 November 2020 02:10 pm

Qatari Diar purchases US embassy building in London

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The United States has agreed to sell its landmark embassy in London’s Grosvenor Square to Qatari Diar, as part of a plan to relocate to a higher-security facility outside the city centre. The agreement is conditional upon the United States being able to fully relocate to their new Embassy site in Wandsworth. Ghanim bin Saad Al Saad, Qatari Diar’s CEO, commented: “Qatari Diar is looking forward to creating the world class mixed-use development that such a landmark site deserves. The purchase of such a prestigious London property underscores the continuing importance of the UK market for Qatari Diar.” Qatari Diar currently has invested more than £3bn in the UK, and has recently said that it is willing to increase this figure to £5bn or more as part of its long-term commitment to the country. Qatari Diar is currently involved in two of London’s largest real estate developments: Chelsea Barracks and the Shard Tower. QInvest LLC, Qatar’s leading investment bank, acted on behalf of Qatari Diar as sole financial adviser on this transaction.