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BIGGEST REAL ESTATE DEAL

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.




Tags: Kuwait | property | real estate |

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