Government Bids For London Real Estate Development


News: The Kuwaiti government has made a GBP1.5bn (US$2.42bn) bid to buy the More London complex situated near Tower Bridge in London. The real estate development includes City Hall, an amphitheatre, office blocks, shops, restaurants and cafes, as well as a pedestrianised area comprising open-air sculptures and water features. St Martins, the property division of the government of Kuwait, is said to be in talks to acquire the 13-acre site. It was reported in July that Kuwait's sovereign wealth fund is planning to invest up to US$5bn in British infrastructure assets over the next few years.

This article is tagged to:
Sector: Country Risk, Real Estate
Geography: Kuwait, United Kingdom