Brexit Prompts SWFs to Desert London Real Estate

January 23, 2019 by Daniel Brett

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With its trophy skyscrapers, luxury hotels, expanding commercial real estate and soaring prices, London’ has lured a total of $226 billion of real estate investment from sovereign wealth funds since 2010. Until recently, the British capital has been seen as offering opportunities to capture high, stable yields, particularly for Middle Eastern funds. However, the brakes have been applied since the British public voted to leave the EU in June 2016. Asset value growth has collapsed and risk has grown amid a lengthy period of uncertainty that is still not over, even with the scheduled date to leave – March 29 – fast approaching. Yet, SWC's analysis predicts that Brexit may not mark the end of SWF investment in London real estate – and the most dire of predicted outcomes could spur renewed interest among funds looking for discounted property values. UK Real Estate Investment Source: Sovereign Wealth Center…

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