Property News · November 23, 2018

Hong Kong developer Wing Tai part of joint venture acquiring US$591 million building in Central London


Hong Kong developers are on a shopping spree, buying up London property as they seek higher yields and to diversify risks.
Wing Tai Properties and Manhattan Garments have entered into a 50:50 joint venture to buy a commercial building in the heart of London for £460 million (US$591.1 million), according to a Wing Tai filing with the Hong Kong stock exchange on Friday.
The pair will each contribute £230 million to the joint venture, and Wing Tai’s share of the investment will…

Source : South China Morning Post
Read more…Hong Kong developer Wing Tai part of joint venture acquiring US1 million building in Central London