Qatar’s record bet on London homes sees $900m of sales – ArabianBusiness.com
- Date: 16-Dec-2021
- Source: Arabian Business
- Sector:Real Estate
- Country:Qatar
Qatar’s record bet on London homes sees $900m of sales – ArabianBusiness.com
It was a real estate deal that broke UK price records, while sparking controversy that led to a royal objection, a costly redesign and a hostile split with the co-developer. But almost 14 years and a market slump later, there are signs of progress for Qatari Diar Real Estate Investment Co.’s Chelsea Barracks.
Properties worth about £200 million ($265m) have been sold in the west London project this year, taking the total to about £683m, according to a spokesperson for Chelsea Barracks. With construction complete on roughly 80 luxury homes, 92 percent of the finished properties have found owners, the spokesperson said.
“2021 has been a highly successful year for Chelsea Barracks in a challenging global environment,” said Richard Oakes, chief sales and marketing officer for Qatari Diar.
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