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Institutional Investors Eye Bluewater Shopping Centre in UK

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Institutional investors are circling in on Bluewater, one of Europe’s largest shopping centres located in Kent. The UK property was developed by Lend Lease and opened in 1999. With over 340 stores and businesses, the mega shopping centre is owned by a number of institutional investors including M&G Real Estate, Singapore’s GIC Private Limited, Lend Lease and Hermes. GIC Private Limited owns a 17.5% stake in Bluewater. Lend Lease is looking to sell its £550 million, 30% stake in Bluewater. In 2013, Bluewater was valued at £1.83 billion.

Bidders include Hammerson, AustralianSuper, Westfield, British Land (with Norges Bank Investment Management), Land Securities, M&G Real Estate, Simon Property Group and Hines. Another interested party is Gingko Tree Investments, a real estate subsidiary of China’s SAFE Investment Company.

Morgan Stanley is the advisor for Lend Lease.

Kuala Lumpur to Singapore Highway Delayed

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The Malaysian government under Prime Minister Mahathir bin Mohamad has been reprioritizing its large-scale infrastructure developments. The highly anticipated railway from Kuala Lumpur to Singapore has been delayed by another five years. The governments of Malaysia and Singapore signed a formal agreement on September 5, 2018. The previous ruling party in Malaysia had set the railway in motion, but the current administration is seeking time for further review. A joint statement suggested that the railway was still a certainty.

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Former FSDEA Chairman Arrested in Angola

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Jose Filomeno de Sousa dos Santos, the son of Angola’s former president and former chairman of the country’s sovereign wealth fund, has been placed under arrest, according to the state prosecutor’s office. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Keppel Land China Acquires Stake in Nanjing Jinsheng Real Estate Development

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On September 20, 2018, Keppel Land China, a subsidiary of Singapore-based Keppel Corporation, purchased a 40% stake in Nanjing Jinsheng Real Estate Development Co, a subsidiary of Gemdale Corporation. Keppel Land China did the deal through an entity called Eternal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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