Doha, 12 March 2014: Qatari Diar Real Estate Investment Company is to open a regional office in Washington D.C. to pursue new strategic investments throughout the western hemisphere.
The office will be located in City Center D.C. complex, Qatari Diar’s flagship North American development currently nearing completion in conjunction with Hines. Designed by Foster + Partners, City Center D.C. is a 148,000sqm urban redevelopment programme in the heart of downtown Washington D.C.
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, due to open later this year, will be headed by Stephen J. Pettit, Qatari Diar Regional Director – 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.
Qatari Diar is currently involved in 49 landmark projects in 29 countries across the Americas, Europe, Middle East, Africa and Asia. 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.