London hailed as prime investment location

The buyer, Qatari Diar Real Estate Investment, has already invested more than £3 billion in the UK, and may boost that to £5 billion as part of its long-term commitment.

Says Chief Executive Ghanim bin Saad al-Saad: "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.

Ghanim bin Saad al-Saad

Chief Executive

Qatari Diar Real Estate Investment

"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.

"We are looking forward to creating the world class mixed-use development that such a landmark site deserves.”

The company is involved in two of London's most prestigious developments - Chelsea Barracks and the Shard Tower - and is known as an aggressive player in the commercial property market.

The embassy includes 600 rooms on nine floors - three of them below ground - which provide a total of 225,000 square feet of space.

A new embassy is to be built in Nine Elms, south London, and the Qatari Diar deal depends on the US being able to relocate fully to the new site.

Says the embassy: "With the signing of this contract, the United States takes another step towards relocating to a new state-of-the-art embassy which will enhance the urban fabric of London.”

Early next year the US State Department will announce the winner of a design competition. Construction will begin in 2012 or 2013 and be completed by 2016 or 2017.

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