Qatari Diar Real Estate Investment Company
Qatari Diar Real Estate Investment Company (Qatari Diar) is an investment vehicle wholly owned by the Qatar Investment Authority. It has separate management and leadership, but it is chaired by Sheikh Hamad bin Jassim bin Jabr Al Thani, who also controls the QIA. It appears that Diar has around $20 billion in assets. It was formed in 2004.
It was launched in March 2005, and in a relatively short period of time has undertaken a number of sizable projects. Currently these include affordable housing plans with Barwa (a joint-venture partner in which Qatari Diar has a 45% stake), a new Doha Convention Centre and Tower, the Ras Al-Hadd eco-tourism resort in Oman, the Al-Houara district in Tangiers, and the massive Lusail community in Qatar.
In June 2007 Qatari Diar was part of a consortium that bought Chelsea Barracks, home of the Coldstream Guards, for £900 million, making it the most expensive development site ever in the UK. This is one of the first forays into the London market for Qatari Diar. In this deal, Qatari Diar is backing the investment company of Candy & Candy, the same brothers who are spearheading the One Hyde Park luxury development.
Business partners include the Barwa Real Estate Company, VINCI Construction Grands Projects (VCGP), and Singapore's Capital International Asset Management (CIAM, part of the RSP Group). Qatari Diar is a major shareholder in to Qatari Banks, Masraf Al Rayan and the Khaleeji Commercial Bank.
Board of Directors
|Youssef Hussein Kamal||Chairman|
|Mohammad Bin Ali Al Hedfa||Chief Executive Officer|
|John Ward||Chief Operating Officer of Development|
|Farid Bendriss||Chief Development Officer|
|Patrick Chenel||Chief Financial Officer|
|Abdul Aziz Mohamed Al-Theyab||Commercial Director|
|Kylie Ward||HR Director|
|Rowan Colman||Development Director|
|Martin Weekes||Acting Corporate Communications Director, Global Brand and Advertising|
|Salah Maktari||Senior Marketing Manager, Global Projects and Public Relations|
Qatari Diar is expected to issue five and ten year bonds at the end of June 2010. Qatari Diar is expected to raise $3.5 billions.
Fields of Interest
According to the official Qatari Diar website, the company is involved in the following areas:
Real estate development, feasibility studies, infrastructure management and implementation, enterprise investment, business venture planning, facilities management, land and property leasing, land parcellisation and sales, land acquisition, and technical and professional services.