KL group gets £790m loan for London project
Battersea Project Holding will use the funds to turn iconic power station into a mixed-use development
Add BT as a preferred sourceA MALAYSIAN consortium has secured a syndicated loan of £790.2 million (S$1.6 billion) for what could arguably become the single-largest real estate development in London.
Battersea Project Holding Company (BPHC), which brings together property developer SP Setia, Sime Darby Property and the Employees Provident Fund (EPF), received the loan from a raft of local and foreign banks led by CIMB, the country's largest investment bank.
The funds will be used to turn the dilapidated Battersea Power Station - unused for three decades and the largest such structure in Europe - into an ultramodern complex housing shops, offices and apartments.
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