Qatari Diar reviewing £2bn project in response to economic conditions
Qatar’s property investment and development arm, Qatari Diar, has put the £2bn redevelopment of Chelsea Barracks in west London “under review”.
Qatari Diar – which owns 80% of London’s Shard – is also considering selling the prime site due to UK economic uncertainty, according to the Guardian.
The investor has planning permission for 450 luxury and 123 affordable homes on the site.
A spokesperson said the company “is taking advantage of the opportunity to review and respond to the context of the prevailing economic environment in preparing for the next stage of the development.”