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Sun 13 Feb 2011 02:04 PM

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Candy & Candy in talks with Qatar for future real estate deals

Firm linked to Qatar-backed One Hyde Park, London, says keen to work with Gulf emirate on fresh projects

Candy & Candy in talks with Qatar for future real estate deals
The luxury London project One Hyde Park, which is backed by the Prime Minister of Qatar’s company Waterknights, set a new record for property pricings on its launch

Candy & Candy, the development manager behind the Qatar-backed
One Hyde Park, is in talks with the Gulf state’s royal family to work on future
projects, its CEO said.

“We would love to [work with the Qatar royal family again],
definitely with the Prime Minister of Qatar; he’s been a phenomenal supporter
of the group,” CEO Nick Candy told Arabian Business. “We would love to
do further things with him, whether that be in London or elsewhere.”

Candy said the two are currently in talks to work on future
projects but declined to give details.

The luxury London project One Hyde Park, which is backed by
the Prime Minister of Qatar’s company Waterknights, set a new record for
property pricings when it launched last month.

More than 60 of units in the exclusive glass and steel Knightsbridge
development have been sold to Middle Eastern investors, at a cost of £6,000 per
square foot.

Unsurprisingly at that price, owners in the luxury
development, which includes 86 apartments overlooking either Hyde Park or Harvey
Nichols, can expect the very best in luxury.

Perks include 24-hour room service supplied by the neighbouring
Mandarin Oriental hotel, a private cinema, swimming pool and a golf
simulator. 

The developer behind the project is Guernsey-based CPC Group,
founded by Candy’s brother. The firm was forced to settle in June with Qatari
Diar, the property arm of Qatar's
sovereign wealth fund, over the failure of another luxury apartment scheme.

Qatari Diar bowed
out of plans to redevelop London’s Chelsea Barracks after Britain’s Prince
Charles wrote to Prime Minister Sheikh Hamad bin Jassim Al
Thani, to protest about the project's “brutalist” modern design.   

The project is now entirely owned by the Qatari real estate
developer.

Despite the failure of the project, Candy said it would not
affect future plans with members of the Qatar royal family.

“We’ve drawn the line on the Chelsea Barracks, we’ve shaken
hands, we’ve apologised, we’ve moved on,” he said.

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