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.
“Qatari Diar, and their development advisers Chelsfield, will continue to work closely with the US government to facilitate their move from Grosvenor Square,” a statement issued by Qatar Diar said yesterday.
The purchase is the latest in a slew of European real estate investments for Qatari Diar, the property arm of Qatar’s sovereign wealth fund.
The statement said it planned to create a “world class mixed-use development” at the embassy’s site.
Qatari Diar CEO Ghanim bin Saad al-Saad said: “The purchase of such a prestigious London property underscores the continuing importance of the UK market for Qatari Diar. We will continue to build our long-term relationships and investments in the UK in a way that is in keeping with local culture and values.”
QInvest LLC, Qatar’s leading investment bank, acted on behalf of Qatari Diar as sole financial adviser on the transaction. Reuters |
