Hines and Qatari Diar Close Agreement on CityCenterDC Property
Tuesday June 10th, 2014 - 10:29AM G
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WASHINGTON, DC—Hines and Qatari Diar, developers of CityCenterDC, have closed on the agreement allowing the parties to proceed with the design and construction of a 370-room luxury hotel and 70,000 sq. ft. of large-format retail space at CityCenterDC.
The hotel at the CityCenterDC—the 10-acre, landmark, mixed-use development located here—will be the Conrad Washington, DC, the newest property in the luxury brand portfolio of Conrad Hotels & Resorts, operated by Hilton Worldwide. The hotel is being designed by Herzog & de Meuron Architekten, based in Basel, Switzerland, as well as HKS Architects, Inc., based in Dallas, as Architect of Record.
Hines and Qatari Diar anticipate construction to begin in mid-2015, with initial occupancy of the space expected in late Fall 2017. The hotel is projected to open in early 2018.
“Conrad Washington, DC is Qatari Diar’s second significant investment in the U.S. property market,” said Khaled Mohammed Al Sayed, group CEO of Qatari Diar. “As we move into the construction of the hotel, we remain committed to the execution of unique international real estate projects that demonstrate Qatari Diar’s deep-rooted belief of upholding quality and sustainability within the global community.”
Tags: Hines • Qatari Diar • CityCenterDC • Conrad Washington DC • Conrad Hotels & Resorts • Hilton Worldwide • Herzog & de Meuron Architekten • HKS Architects Inc. • Khaled Mohammed Al Sayed • Hospitality • Construction/Renovation •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.