All three awards for the Best Sustainable Residential Development at the levels of the UK, Europe and, now, the world have been awarded to Qatari Diar.
Qatari Diar’s ‘Chelsea Barracks’ project wins the World’s Best Sustainable Residential Development Award in Belgravia, London, which is a part of the International Property Awards ceremony.
The 12.8 acre Chelsea Barracks project is a mixed-use real estate development plan where traditional gardens in Britain’s Belgravia district are featured. The hallmark encapsulates the neighbourhood’s efforts in promoting public green spaces through seven garden squares, creating a permeable public green space and walkways throughout the site. This cemented the property’s position as the award winner for its environmentally-friendly and sustainable infrastructure, according to reports.
A Mixed-use building is a type of urban development through which various functions are blended into one structure, such as residential, hotel, retail, parking, transportation, culture and entertainment.
The different sections of the Chelsea Barracks plan showcase the developers’ sustainability and green vision as 40% of the area is dedicated to green spaces. The materials used in the making of the neighbourhood also contribute to the overall sustainable nature of this site, the report said.
In a statement, the Chief Executive Officer of Qatari Diar, Engineer Abdullah bin Hamad Al-Attiyah, noted the company’s vision for Chelsea Barracks “has always [been] centred around making it the most sustainable development it can be. We have created a truly accessible and sustainable place for people to live and spend time in through our abundance of green spaces and considered design, adding immense value to both residents and the local community in this newly revitalised part of Belgravia.”
“We are committed to creating spaces that weave seamlessly into the fabric of the local area, and we’re delighted that all this has been recognised in winning the awards for the Best Sustainable Residential Development in the UK, Europe and now the world as part of the UK and International Property Awards respectively,” he added.
Luxury amidst sustainability
The Chelsea Barracks neighbourhood is home to one of the priciest accommodations in London real estate. A luxurious townhouse within the area amounting to $78 million had been put on the market in early February.
Qatari Diar purchased the Chelsea Barracks townhouse in 2008 for approximately $1.9 billion, in partnership with British developers, as per the Wall Street Journal.
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Qatari Diar is a real estate company established by the Qatar Investment Authority in 2005. The company owns monumental buildings like The Shard in London.
Considered to be one of the world’s leading companies in sustainable real estate, Qatari Diar also won the British version of the award last year in the United Kingdom.
The global version of the award won by the real estate company is viewed as the “most prestigious” award granted in this field due to the excellency level it holds internationally. This places the employees working at the Chelsea Barracks project as “leaders” in the field of global sustainability.
The project obtained the Platinum Rating in April 2021 from the Energy Leadership System and Environmentally Friendly Designs (LEED) upon claiming the status of the most sustainable project in Europe, and was considered one of just 16 worldwide projects to achieve this status.
According to Reuters, Qatari nationals and companies have spent an estimated $5.9 billion on “publicly disclosed commercial and development sites” in the UK since 2008.
The UK has been particularly attractive to Qatari investments as it offers tax exemption on profits foreign investors make when they sell properties.
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