Qatar’s Diar eyes $4.8bn London plan

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Qatari Diar is all set to win the final approval for a $4.8 billion project for the redevelopment of the Chelsea Barracks site. The revised plan for the 13 acre site has been recommended for approval and the final decision is due on Monday, this week.

Qatari Diar-the property investment arm of Qatar’s sovereign wealth fund, submitted its plan following intervention by Prince Charles. The application is for 448 houses and flats, of which only 123 are claimed to be affordable.

The application from the Qatari Diar is an outline; thus once approved, various detailed versions for each building will require further approval from the committee.

Qatari Diar is also short listed to own and manage the Olympic Village in London.

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