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.
- Follow me @LondonlovesBiz and @Harry_Cockburn
- Try our free newsletter
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:
End of the London bubble? Osborne eyes tax on foreign property owners
UK construction output hits highest level since 2007
Leave a Comment