#Asian #investments in central #London #offices increase
According to a report by Property Wire, Asian investors had transacted £1.7 billion worth in central London’s office, compared to £668 million in 2010, which showed a 150% increment, said #Jones Lang Lasalle.
Total investment volumes in the central London office market reached £10.8 billion in 2011. International buyers represented 60% worth £6.4 billion of total investment volumes with Asian buyers accounting for 16% compared to 6% in 2010.
‘During 2011 we have seen Asian investment into London more than double. What has been evident is the emergence of new sources of Asian capital attracted to London ranging from pension funds like EPF & PNB from Malaysia to Ultra High Net Worth (UHNW) investors like Khoon Hong Kuok and Martua Sitorus who acquired Aviva Tower in the City of London for £288 million,’ said Alistair Meadows, head of Jones Lang LaSalle’s International Capital Group, Asia Pacific.
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