Investor moves into Greenwich

City A.M. Reporter
HONG KONG investor Knight Dragon has taken full ownership of a development in south east London’s Greenwich Peninsula after paying its British partner Quintain Estates £186m for its 40 per cent stake.

Knight Dragon, an investment vehicle owned by New World Development Co’s chairman Henry Cheng Kar-Shun, bought its 60 per cent share in the 150-acre scheme in June last year for £480m.

Asian investors have ploughed billions into central London in recent years, lured by its perceived safe haven appeal and the iconic nature of some of its properties.

On Friday, Singapore developer Oxley Holdings bought London’s largest development site since Battersea Power Station. The Greenwich scheme, which is near the O2 concert venue, will contain more than 10,000 homes and space for 25,000 workers along a 1.6 mile stretch of the River Thames.

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