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Chinese firms piling into London properties

Data from CBRE Group shows they are on track to invest £4b this year, beating the 2015 record by a third

Published Sun, Nov 20, 2016 · 09:50 PM

London

WITH Britain trying to hammer out the terms of its exit from the European Union (EU) and banks considering their options on the continent, is this the best time to start building a new financial district in London?

China thinks so.

Four of the country's biggest banks this month agreed to finance the first stage of a £1.7 billion (S$3 billion) transformation of an old East End dock into a hub for Asian businesses.

To the west of the site near London City Airport, the towers of Canary Wharf stand as a reminder of how ambitious projects in the UK capital can remain white elephants for years before turning into cash cows.

Chinese companies are on track to invest £4 billion in London property this year, beating t…

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