Guillaume Poitrinal, former Unibail- Rodamco SE chairman and chief executive officer, plans to set up a property fund with JPMorgan Chase & Co. real estate analyst Harm Meijer, two people with knowledge of the matter said.
Canary Wharf took less than 25 years to fulfill Paul Reichmann ’s vision of building a “mini Wall Street” in the U.K. to rival the City of London financial district. Investors are still waiting for their reward.
Asian investors are the biggest buyers of office property in the City of London this year, wagering that the financial district’s volatile market has changed since it routed Japanese buyers in the 1990s.
Hammerson Plc and Westfield Group formed a venture to rebuild part of the English town of Croydon in south London in a project valued at about 1 billion pounds ($1.6 billion), ending a tussle over the development.
Capital & Counties Properties Plc climbed to a record after JPMorgan Chase & Co. said the builder planning 7,500 homes at London’s Earls Court may sell part of the site and use some of the proceeds for a one-time dividend.