HKMA Hedges Against QE, Invests in Mayfair Development

Hedging against high-priced Hong Kong real estate and continued quantitative easing policies by Western monetary authorities, large Asian investors are plowing capital into London real estate. In July 2013, Ping An Insurance Co Of China Ltd acquired the Lloyd’s Building for £260 million while Hong Kong-based Knight Dragon recently agreed to buy the remaining 40% in a project on the Greenwich Peninsula from Quinlan Estates & Development Plc. Knight Dragon is an investment vehicle owned by Dr. Henry Cheng Kar-Shun. Singapore’s GIC Private Limited, China Investment Corporation, Korea’s National Pension Service, Korea Investment Corporation and China’s SAFE Investment Company have acquired real estate in London.

The Hong Kong Monetary Authority (HKMA) entered into a 50:50 joint venture with Great Portland Estates, a London-based real estate investment trust. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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