Business Standard

Chinese firm looks to buy big office complex in London

Press Trust of India  |  Beijing 

Besides CIC, other bidders for the 1.1 million sq ft building include Chiswick Park owned by the US private equity firm Blackstone and government-backed funds from South Korea and Malaysia, state run China Daily quoted British media reports today.

The continued appreciation of the Renminbi has also made international purchases more appealing to Chinese buyers.

Commenting on the report Grant Ji, a senior director in the investment department at the real estate service provider Savills Property Services (Beijing) Co Ltd, said "London has seen a really brisk property market this year, as the financial crisis brought more buying opportunities

RECOMMENDED FOR YOU

Chinese firm looks to buy big office complex in London

China Investment Corp, (CIC) a USD 410 billion Chinese sovereign wealth fund has evinced interest in buying an 800 million pound (USD 1.3 billion) London office complex, in what could become the latest in an increasing number of international property deals by Chinese buyers.

Besides CIC, other bidders for the 1.1 million sq ft building include Chiswick Park owned by the US private equity firm Blackstone and government-backed funds from South Korea and Malaysia, state run China Daily quoted British media reports today.

The continued appreciation of the Renminbi has also made international purchases more appealing to Chinese buyers.

Commenting on the report Grant Ji, a senior director in the investment department at the real estate service provider Savills Property Services (Beijing) Co Ltd, said "London has seen a really brisk property market this year, as the financial crisis brought more buying opportunities image