QATARI DIAR INVESTS IN WASHINGTON
Qatari Diar, the real estate development entity of the Qatar Investment Authority, has emerged as one of the parties behind the construction of the Conrad Washington, DC.
The Hilton Worldwide-operated hotel will part of the CityCenterDC in the US capital. Qatari Diar is working with international real estate firm Hines on the design and construction of the hotel and 70,000 square feet of largeformat retail space. Hines and Qatari Diar are expecting construction to commence in mid-2015, with initial occupancy of the retail space expected in late autumn 2017. Due to open in early 2018, the hotel will have 370 rooms and is being designed by Herzog & de Meuron Architekten and HKS Architects. Qatari Diar group CEO Khaled Mohammed Al Sayed says: “Conrad Washington is Qatari Diar's second significant investment in the US property market. As we move into the construction of the hotel, we remain committed to the execution of unique international real estate projects that demonstrate our deep-rooted belief of upholding quality and sustainability within the global community.”