John Wong, who leases offices in downtown Beijing’s new, 61-story Fortune Financial Center, has filled 60 percent of the space in the tower completed in September. He said he’s confident the rest will be snapped up.
Amancio Ortega Gaona, already the world’s fourth-richest person based on the success of his Zara fashion retail stores, has quietly amassed a real estate empire worth as much as $10 billion and is emerging as a formidable competitor for prime properties from London to Beverly Hills.
Sixteen years after British Land Co. bought the biggest office complex in London’s main financial district, the area’s rents have fallen back to where they were then. Now it’s looking to the U.K. capital’s West End for stronger growth.