Grosyenor's chief executive predicts 'leaner times' ahead

摘要

Grosvenor Croup chief executive Mark Preston has warned of "leaner times" ahead as property values around the globe reach peak levels. Two years ago, the Duke of Westminster's property company called the top of London's luxury housing market and cut its exposure to high-end residential development by about £240m. Speaking after Grosvenor's annual results on Tuesday, Preston (pictured) said the current market weakness "vindicated" that decision. He also warned of a correction in the commercial property market.