Kuwait in $2.4bn bid for London property
Kuwait, October 19, 2013
Kuwait has made a £1.5billion ($2.42 billion) bid to buy More London complex, a real estate development in the UK that includes an amphitheatre, offices, shops and restaurants, said a report.
More London complex, located next to Tower Bridge, is the prized property development in the UK capital owned by Bahamas-registered London Bridge Holdings.
The bid has been made through St Martins, the UK-based real estate investment vehicle of Kuwait, which is in key discussions with London Bridge Holdings to buy the 13-acre site, reported the Times.
A leading property investment and asset management company, St Martins has a diverse portfolio in the UK, Continental Europe, Australia and Asia.
Designed by Foster and Partners architects, More London, boasts of the City Hall, the headquarters of London Mayor Boris Johnson, a sunken outdoor amphitheatre called The Scoop, which has a seating for 800 and also office blocks, shops, restaurants and cafes.
It also has a pedestrianised area containing open-air sculptures and water features, including fountains lit by coloured lights.
More Construction & Real Estate Stories
- Duqm completes airfields infrastructure work
- House prices hit new peak, led by emerging Asia
- Tunelling experts to meet in Dubai
- New mortgage rules to drive UAE property boom
- Sub-Saharan real estate set for big growth
- Cluttons names professional services head
- Hill wins key Doha tower project
- Dubai wins Expo 2020 with HOK masterplan
- UAE property group to invest $54m in Turkey
- Industrial facility rents up in Abu Dhabi