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The Li Ka-shing family continues to buy and buy in the UK. Interested in buying 640 million London luxury properties.

November 08, 2018 00:12
Author: Tao Ningning
source: 澎湃News
edit:Eastern Fortune Network

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Summary
[Li Ka-shing family continues to buy and buy in the UK. Interested in 6.4 billion to buy a London luxury project] Li Ka-shing family has to buy land in the UK. Although Superman Li Ka-shing retired, his family still adheres to its investment strategy of buying and buying in Europe, especially in the UK. (澎湃News)

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The Li Ka-shing family has to buy land in the UK. Although Superman Li Ka-shing retired, his family still adheres to its investment strategy of buying and buying in Europe, especially in the UK.

According to economic media reports, British real estate development and investment company Capital &Counties Properties Plc (Capco) said that Cheung Kong Group (01113.HK) is in preliminary negotiations on the acquisition of 90% of Capco's Earls Court project. The project is located in the West End of London and currently has a valuation of approximately 707 million pounds (approximately RMB 6.43 billion) and a contract value of HK$7.2 billion.

Capco has the Covent Garden in central London and the land of Earl's House, one of London's largest development sites.

CapCo said that the company has received several acquisition proposals for the project and will compare these proposals with the benefits of splitting the business. Capco also said that the company's joint venture project, Lillie Square, is not part of the Chess Group's proposed acquisition.

In recent years, the Li Ka-shing family has sold a lot of projects in mainland China and Hong Kong, while buying and buying in Europe, especially in the UK. After Li Ka-shing retired in May this year, his business empire was picked up by his eldest son, Li Zezhen, but even if Li Ka-shing’s business kingdom was replaced, his investment strategy in recent years has not changed. Europe, especially, should still be the area where the Li Ka-shing family increased their investment.

Just in June this year, just a month after Li Ka-shing retired, Cheung Kong Group spent £1 billion (about HK$10.49 billion) to acquire UBS's London headquarters from British Land. Broadgate 5th.

Broadgate 5 is a large office building in the heart of the City of London with a total area of ​​approximately 700,000 square feet. This is the first time that Changjiang Industrial Group has purchased large office buildings in London among the many investments in the UK.

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(Article source: 澎湃News)

                (Editor: DF406)

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