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Fri 14 Mar 2014 01:29 AM

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Qatari Diar to open US office, mulls new investments

Qatari property giant plans to open regional office in Washington DC to support new projects

Qatari Diar to open US office, mulls new investments
City Center DC complex, Qatari Diars flagship North American development currently nearing completion.

Qatari Diar Real Estate Investment Company is to open a regional office in Washington DC to pursue new investments throughout the western hemisphere.

The office will be located in City Center DC complex, Qatari Diar's flagship North American development currently nearing completion.

Designed by Foster + Partners, City Center DC is a 148,000 sq m urban redevelopment programme in the heart of the US capital's downtown district.

In addition to City Center DC, Qatari Diar is part of the joint venture developing Panama Pacifico on the site of the former Howard Air Force Base in the Republic of Panama.

Khaled Mohammed Al Sayed, Group CEO of Qatari Diar, said: "The success of the City Center project, together with Qatari Diar's project in Panama, have encouraged us to look for additional opportunities in the Americas.

"Qatari Diar's new regional base will manage existing projects and explore other strategic investments within the region."

The Washington DC office, due to open later this year, will be headed by Stephen J Pettit, Qatari Diar regional director - Americas.

He said: "Qatari Diar's new base in the Americas will bolster the company's operations in the western hemisphere, allowing the regionally-based team to oversee the effective management of current and future projects."

Qatari Diar is currently involved in 49 projects in 29 countries across the Americas, Europe, Middle East, Africa and Asia with an estimated total value of $35 billion.

The first phase of City Center DC comprises six buildings containing 458 rental apartments and 216 condominiums, in addition to 48,000 sq m of office space and more than 17,000 sq m of retail space.

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