In the past year, there have been a number of reports of Singaporean companies buying into London. This blog post is to share a couple of such stories.
GIC Buys into London:
GIC reportedly paid $3.4bn for a 50% stake in a London office complex called Broadgate. Where is this Broadgate? This link gives you more information.
The Broadgate complex is in the City of London. According to CIMB Economist Song Seng Wun, "The Broadgate stake makes sense for GIC as a long-term strategic investment..."
What does this mean for small investors like us?
GIC believes, in the long term, they would be able to rent out the office face and make good money. Better still, their asset may be worth more in the future. Why? London is a global city, global financial center, a place where businesses want to be. Office workers need a place to stay, right?
Ho Bee Buys Second London Property
Here is another example of a Singaporean company buying office space in London. Straits Times 8th March 2014 - Ho Bee buys second London property, paying $360mil for central Grade A office building space. Ho Bee Land says it has bought 1 St Martin's Le Grand as a long-term investment for recurring income.
Have a good day!
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