Hong Kong investor Knight Dragon has taken full ownership of a development in Greenwich after buying out the remaining 40% stake held by its British partner Quintain Estates.
Knight Dragon, an investment vehicle owned by Henry Cheng Kar-Shun, the chairman of New World Development Co, bought a 60% share in the development last year for £480m. The firm reportedly paid £186m for the remaining 40%.
The development is one of several investments made by Asian investors in central London in recent years.
Last week Oxley Holdings, a Singapore based developer, bought another one of London’s largest development sites, the Greenwich scheme, which is near the O2 concert venue. It will contain more than 10,000 homes.
Get your business and talent recognised – enter the London Loves Talent Awards by 6 December
Judged by Tim Campbell, Will King, Terry Morgan CBE, Amit Bhatia, Matthew Hancock MP, June Sarpong & more
You need to read: