Singapore firms rush London with £375m of August deals

摘要

The enthusiasm of far eastern money for London property is well established, but even so a flurry of deals with Singapore-based investors in August seemed a little out of the ordinary, In little more than a week we learned that Sinar Mas Land was purchasing 10 Great Pulteney Street for £57m; United Overseas Land Croup (UOL) had paid £97m for Heron Plaza in the City; and that Temasek Holdings, Singapore's state investment agency, was poised to buy a 50% stake in MidCity Place for more than £175m. You could be forgiven for thinking that this much Singaporean money in a month would constitute the biggest batch of investment ever in London from that small island, but then you would be forgetting that GIC, Singapore's sovereign wealth fund, bought a 50% stake in Broadgate in December for £1.7bn, which rather puts £329m in the shade.