China to spend £1.2bn on London property projects

Chinese state-owned property firm Greenland Holding Group is set to invest £1.2bn in two property projects in London.

The firm will acquire Minerva’s Ram Brewery in Wandsworth for an undisclosed price. The new development on the site would reportedly be worth £600m.

The other development as part of the investment is an apartment block on a 39,826-square-foot site in Canary Wharf.

“The prospect for our overseas property business is great. Rich and middle-class Chinese will be the main buyers of our projects,” Greenland Chairman Zhang Yuliang said in the statement.

Readers' comments (1)

  • Anonymous

    So Londoners are again being shut out from living in their own city.

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