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FINANCIAL NEWS
Qatari Diar sued for USD16.2m over delayed redevelopment
15 Sep 2014
(MENAFN) The Qatari Diar is being sued for USD16.2 million by property developer Chelsfield Partners over the stalled redevelopment of the US embassy in London, Arabian Business reported.
Chelsfield Partners has lodged a claim in London’s High Court against Qatari Diar over the sum alleged to be owed under the terms of a contract signed in 2009 to redevelop the US embassy building, known as the Chancery which was bought by both Chelsfield and Qatari Diar in 2009.
Meanwhile, the US has started developing its new embassy in Nine Elms, south London, with redevelopment of the Chancery building due to begin in 2018.
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