Report: Kuwait in $2.42bn bid for London real estate complex

Kuwait’s $2.42 billion bid to buy the More London complex could be Britain’s biggest property deal. (Photo courtesy: london.gov.uk website)

Kuwait has made a £1.5 billion ($2.42bn) bid to buy the More London complex, which includes one of the British capital’s most modern buildings, the City Hall, a newspaper reported on Friday.

Dubbed as what could be Britain’s biggest property deal, the Kuwaiti government property division, St Martins, is currently in talks to acquire the 13-acre site, The Times reported.

The complex, which has a sunken amphitheater called The Scoop, also includes other properties that are let to companies such as Ernst & Young, PwC and Terra Firma Capital.

According to Bloomberg, Kuwait’s sovereign wealth fund has doubled investments in the UK to reach more than $24 billion in the past 10 years.

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Last Update: Wednesday, 20 May 2020 KSA 09:41 - GMT 06:41
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