Qatari Diar has announced a $2bn deal to create a home-rental business in London, Arabian Business reported.
The property development arm of the Qatar Investment Authority has joined with British developer Delancey Estates and a Dutch pension fund to manage an eventual portfolio of 4,000 homes in the UK capital.
The properties are located in London’s former Olympic athlete village in Stratford, which was bought by Qatari Diar and Delancey Estates in 2011 for $794m, as well as Elephant & Castle.Â
Sheikh Jassim Al Thani, chief development officer in Europe and the Americas, Qatari Diar, said: “This merger between two leading London private rented-sector schemes is the first step in what is a much larger endeavour; to significantly increase the supply of new homes in connected and affordable locations in British cities.”
Qatari Diar is developing almost 3,000 home in Stratford.
While, the two other joint venture partners will develop over 600 home and student housing units in Elephant & Castle.
