China's loss is Singapore's gain in UK property

SINGAPORE (June 28): Brexit worries may be damping sentiment in Europe but in Asia, real-estate investors don’t appear too concerned.

While Chinese purchasers of London property have put away their wallets as capital controls bite, buyers from Hong Kong, Singapore and South Korea are picking up the slack.

Victor Li, who succeeded his billionaire father Li Ka-shing as head of the CK group of companies, purchased UBS Group AG’s headquarters in the City of London financial district for 1 billion pounds ($1.8 billion) earlier this month, while Singapore’s Ho Bee Land. splashed 650 million pounds on a 21-story office building called Ropemaker Place.

---

Related Stories

• MAS set to hold monetary policy as inflation persists
• ‘I am innocent’: Iswaran rejects charges in statement
• F1 Singapore race has brought 'substantial benefits', contracts did not disadvantage govt: MTI

---