Hong Kong investment group spends £666m on Greenwich development

Hong Kong investor Knight Dragon has taken full ownership of a development in Greenwich after buying out the remaining 40% stake held by its British partner Quintain Estates.

Knight Dragon, an investment vehicle owned by Henry Cheng Kar-Shun, the chairman of New World Development Co, bought a 60% share in the development last year for £480m. The firm reportedly paid £186m for the remaining 40%.

The development is one of several investments made by Asian investors in central London in recent years.

Last week Oxley Holdings, a Singapore based developer, bought another one of London’s largest development sites, the Greenwich scheme, which is near the O2 concert venue. It will contain more than 10,000 homes.

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