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Malaysia's E&O buys third property in London for US$86m

Artist's impression of St Mary Residences, located in Kuala Lumpur Central Business District.

[KUALA LUMPUR] Malaysian property developer, Eastern & Oriental Bhd (E&O), is buying vintage office buildings Landmark House and Thames Tower in London from GEMS Hammersmith (Luxembourg) SARL for £57 million (US$86 million).

The purchase marks its third in London. It bought Princes House in 2012 and ESCA House last year. "The proposed acquisition is consistent with the group's corporate strategy which includes strengthening its overseas growth engine and to establish the E&O brand internationally," it said in a filing late on Monday.