QATARI CONNECTION IN EMBASSY CONVERSION
As part of its development programme across London, Qatari Diar Real Estate Investment Co. is making plans to convert the US embassy in the city into a luxury hotel.
British architect Sir David Chipperfield is said to be at the helm of affairs, and according to reports, the building will be converted into a 137-bedroom five-star hotel with a spa, a ballroom, high-end shops and five restaurants.
Qatari Diar, established in 2005 by the Qatar Investment Authority, will also manage 4,000 homes in the former Olympic athletes' village and the Elephant and Castle district as part of a $2 billion home rental business. It will tie up with UK and Dutch companies – Delancey Real Estate Asset Management Ltd and APG Asset Management NV, respectively – for the project.