The world’s largest sovereign wealth box – Norges Norges Banks Management (NORGESMEMENT (NORGES NORGES MANAGEMENT (NORGES MANGEMEMENT (NORGES NORGES MANAGEMENT (NORGES NORGES MANAGEMENT (NORGES NORGES Management (Norges Norges Management (NORGESEMEMENT))
NBIM, which has approximately 2 trillion assets under management and holds 1.5 % of all companies listed in the world, partnership with Capital Shaftsbury, The owner of the region, for the deal.
Covent Garden ESTATE is now 2.7 billion pounds ($ 3.5 billion). Retail, food and beverage institutions use most of the lands, while office and residential buildings occupy a quarter.
The area, which includes seven aspects and Nile Square, is already popular Tourist destination It features most major brands, from Tissot, Ladurée to Apple and Chanel.
The NBIM investment comes among a large number of new retail institutions that open in Covent Garden, including Brands Like Diptyque perfumes, Activewear brand Alo Yoga, and Charlotte Tilbury.
Covent Garden is one of the prominent cultural centers in London. When the city was Destroy Fire in 1666, the region rose to this occasion, as it became the largest market in London that sells fruits and vegetables.
Today, it is home to the West End shows in the city and outperforms Bayza with dozens of foodstuffs and retail trade that is sprayed around.
The region suffers from traffic loss during the Covid-19s, and lost About a quarter From its value at that time from 2.5 billion pounds to 1.8 billion pounds. When the activity began to pick up, Shaftsbury continued To reinforce Her wallet in the real estate market in Covent Garden. The demand for luxury property has arrived in Covent Garden last yearThe real estate company has found UK Sotheby’s International Realty.
“This investment emphasizes our belief in the power of London with a portfolio that complements our other high -quality investments from West End,” said Jayish Patel, head of the United Kingdom’s real estate department at NBIM. “Covent Garden is one of the most entertainment, entertainment, and entertainment destinations in the world.”
The vibrant shopping area is not the only one that caught the attention of NBIM recently. In January, the Norwegian box bought a quarter of Grosvenor Property in the upscale Mayfair neighborhood in London. The value of the deal amounted to 307.5 million pounds and includes a mixture of desktop and retail buildings.
NBIM also owns part From Regent Street through a partnership with the real estate crown.
Companies are trying to take advantage of low prices in major real estate, including advanced retail, after injury to high interest rates.
Nicolai Tangen, Nicolai Tangen, has become a thirsty investor over the years. Most of her money is invested in stocks, including approximately 173 billion dollars In seven great stocks. only 7 % One of its investments in real estate.
After announcing the deal, Shaftsbury shares increased by 7.5 % at 11:30 am London time.
The actors in NBIM and Shaftesbury are no longer immediately wealth Comment requests.
This story was originally shown on Fortune.com
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