The property arm of <a href="gopher://topicL3RoZW5hdGlvbmFsL0xvY2F0aW9uL01pZGRsZSBFYXN0L1FhdGFy" inlink="topic::L3RoZW5hdGlvbmFsL0xvY2F0aW9uL01pZGRsZSBFYXN0L1FhdGFy">Qata</a>r's sovereign wealth fund, best known for developing property in London, is moving into the United States. For its first foray into the US market Qatari Diar is financing the $700 million (Dh2.5 billion) construction of CityCenterDC in Washington DC. The 10-acre project, which broke ground this week, is billed as the largest downtown development under construction in the US. Qatar is "in the process of looking to gain more exposure to American real estate", said Fadi Moussalli, regional director of Jones Lang Lasalle's international capital group. "There will be more [deals] to come." In recent years Qatar funds have been focused on London, including funding the development of the Shard, which will be the city's tallest building. Various funds connected to the Qatar government are also behind the redevelopment of the Chelsea Barracks, the One Hyde Park luxury apartments and Qatar is looking to diversify by investing in the US, Mr Moussalli said. "They are relatively overexposed to the UK," Mr Moussalli said. "It doesn't mean they won't do more in the UK, but they need to balance the portfolio." After a sharp downturn US property is starting to attract more attention from international investors. Foreign investment in US commercial property more than doubled in 2010, rising from $4.1 billion in 2009 to $9.7 billion in 2010, according to Real Capital Analytics, which tracks the market. But foreign investment is still well off the peak set in 2007, when Middle East funds help push foreign investment in US property to a record $39.8 billion.