Qatari Diar Sets Cornerstone for Phase 4 of London's Chelsea Barracks Project

London, March 05 (QNA) - Qatar Diar has announced the laying of the cornerstone of Phase IV of its London-based Chelsea Barracks after the success of the first three phases of the project, a landmark in the real estate development of the prestigious Belgravia district of London. Qatar Diar appointed Multiplex as the main contractor for Phase IV and has completed the first three phases, which includes the construction of 81 new homes and consists of 12.8 acres in the prestigious neighborhood in Belgravia, due for completion by the end of 2019. Multiplex will begin construction and development immediately after the laying of the foundation stone, with completion scheduled for the summer of 2022. Phase IV is one of the largest and most important phases of the project and extends to the success of the company in the development of the previous three phases. This stage is the center of the Chelsea Barracks area, covering an area of 517,000 square feet, designed by Eric Parry Architects, which has designed many important buildings in London including the London Stock Exchange, 23 Saville Row, and the famous St Martins-in-the-Fields. Phase IV consists of three buildings with 97 apartments, as well as a state-of-the-art spa, tennis courts, a wellness center and two garden squares. Five Fields Square, the largest of the seven garden squares, and a second that will be exclusive to the residents of the three buildings. The beauty of this outstanding architectural masterpiece in Belgravia is in its modern design and retaining the original identity of the prestigious Belgravia area of London. CEO at Qatar Diar, Eng. Abdullah Hamad Al Attiyah said, "Although weve been on site working on the latest phase for the last 18 months, the appointment of Multiplex as the main contractor for this phase demonstrates our commitment to Chelsea Barracks and London." Al Attiyah added, "While work on this stage of construction begins, we look forward to welcoming our first residents to their homes later this year when the site will be open to the public for the first time in over 150 years." Multiplex CEO Ashley Muldoon says: "We are extremely proud to have been awarded the main contract for the next phase of Chelsea Barracks, and to be working on a development that will transform the landscape of Belgravia." Out of public reach for over 150 years, Chelsea Barracks is situated on a 12.8-acre site. Today, the land is being transformed into one of the world’s most desirable addresses. The new development will be an entirely new and prestigious neighborhood in London that connects seamlessly with the surrounding streets of Belgravia. Developed by Qatari Diar Europe, Chelsea Barracks will comprise a rare collection of apartments, penthouses, mews and townhouses as well as an unparalleled array of amenities including: restaurants, shops, sports facilities as well as a state-of-the-art health club and spa. Five acres (40%) of previously concealed land will be opened up to create beautifully landscaped public green space with seven traditional garden squares. Multiplex has been delivering landmark property and infrastructure assets for over 50 years. They are a leading international contractor with a focus on sustainable growth and a presence in Europe, Canada, the Middle East, Australia and India. Established in 1962, Multiplexs work to date comprises more than 955 projects with a combined value in excess of US$80 billion. They have built a reputation in the marketplace for their collaborative, flexible approach working in partnership with their clients and maintaining a shared focus on the final goal. With almost 7,000 employees across the globe, Multiplex has a mobile, collaborative workforce that shares knowledge and applies international best practice across all projects. Qatari Diar Real Estate Investment Company was established in 2005 as a member of the Qatar Investment Authority (QIA) to support the growing Qatari economy and implement real estate development projects inside and outside Qatar. Qatari Diar began its first projects by establishing the Lusail City northern Doha in December 2005, which is the largest city in the world built according to sustainability standards. Qatari Diar has a capital of US $ 8 billion, with more than 60 projects under development in Qatar and in 24 countries around the world with investments estimated at more than US $ 35 billion. Qatari Diar has established itself as one of the most credible and respected real estate companies in the world. Its commitment to the communities in which it is located, by working to improve its quality of life and its commitment to quality and sustainability. (QNA)