Battersea Power Station is set to receive multi-million pound financing by the end of October, Battersea Power Station Development Co. CEO Rob Tincknell has said.
The news comes after the company secured ยฃ790m in funding from banks including Malaysian banks CIMB and OCBC, and Standard Chartered in November last year. Owners of the station, SP Setia and Sime Derby, have said the regeneration of the building will cost ยฃ10bn.
In an interview with Reuters, Tincknell didnโt reveal the amount of funding the company is going to receive next month. โWeโre finalising arrangements for phase two and three of construction funding,โ he siad.
โItโs not easy, but our shareholders have incredibly strong balance sheets and theyโre incredibly well supported by leading Malaysian financial institutions.
โWeโve had a lot support from Malaysian banks and theyโre all keen to get involved.โ
The first phase of selling apartments began in January 2013. Out of the 865 apartments, 50% were sold abroad. The second phase saw 1,050 apartments sold.
Once the project is completed in 2025, a total of 4,000 apartments are expected to be purchased.
Tincknell is set to go on a world tour including cities like New York, Dubai, Shanghai and Tokyo to promote the project.
Now read:
Leave a Comment