Multiplex has entered into a contract to transform the former US second-listed embassy in Mayfair, central London, into a luxury hotel and retail destination. The developer of Qatari Diar announced its date today when it renamed the building located at 30 Grosvenor Square as The Chancery Rosewood. The project will see the Australian multinational contractor transform the building so that it can boast of retail space as well as a new public space to support improvements in the field, as well as the 139-room hotel, which will include a large ballroom with space for 750 guests. Qatari Diar CEO, Abdullah bin Hamad Al-Attiyah said: “Announcing the name of Chancery Rosewood and awarding the contractor designation to Multiplex marks a milestone in the transformation of Grosvenor Square, a project that we are extremely proud to be part of our ongoing investment in UK real estate. Our vision at Qatari Diar is to revitalize this public space by creating a world-class hotel destination, thus inspiring the broader renovation of the Mayfair Center. Along with developing The Chancery Rosewood, our investment will create significant improvements in the area to help reconnect it with Mayfair. ”The US Embassy opened in the building in 1960 and relocated to Nine Elms in 2018. Architect Sir David Chipperfield is redesigning the building as a whole, whereby Joseph Deiran works inside the new hotel.Earlier this year, Multiplex revealed that the COVID-19 pandemic had cost the company between £ 130m and £ 170m in 2020. It revealed the strike in its financial results for the 12 months ending On December 31, 2019, when it suffered its first loss in 11 years, it reported the company’s injury.Pre-tax loss was £ 14.1 million against a profit of £ 18 million in 2018. Its revenue decreased from £ 1.1 billion in 2018 to £ 872 million. Sterling in 2019. The scheme has not been officially announced, but Glenigan has an estimated value of £ 400m.