Qatari Diar to open office in Washington to manage expansions in the West

by  — 13 March 2014

The Qatari Diar Real Estate Investment Company, valued at an estimated USD35 billion, is to open a regional office in Washington D.C. to pursue new strategic investments throughout the western hemisphere.

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

The office will be located in City Center D.C. complex, Qatari Diar’s North American development, a 148,000 sqm urban redevelopment programme in the heart of downtown Washington D.C, currently nearing completion in construction. In addition to City Center D.C., 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.

Announcing the new office, Khaled Mohammed Al Sayed, group chief executive officer of Qatari Diar Real Estate Investment Company, 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 is due to open later this year, and will be headed by Stephen J. Pettit, Qatari Diar regional director for the Americas. “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,” said Mr. Pettit.

Late last year, the Qatar Foundation International announced that it would open an Arab cultural centre in the development. Tentatively named Al Bayt, the cultural centre will aim to provide information and resources on Arab culture for United States students, educators, and the general community.

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