The sovereign wealth fund, Norway, puts $ 740 million in the Covent Park in London

On Thursday, the sovereign wealth fund of $ 1.8 trillion of Norway – the largest of its kind in the world – said on Thursday that it had concluded a deal to buy a quarter of a real estate portfolio in the famous Koftu Park in London, in its recent bet on excellent real estate in the UK capital.

In a new joint venture, the bank’s manager (NBIM) Director (NBIM) He said It will pay 570 million pounds (739 million dollars) compared to a 25 % stake in the British real estate portfolio of Chaftsbury Capital, which is estimated at 2.7 billion pounds.

NBIM said the wallet includes 1.5 million square feet, and is mostly used for retail and entertainment purposes, inside the London regions of Covent Garden and seven aspects.

London’s Shaftsbury Capital shares in London jumped by approximately 16 % on the open market before earning a slightly peeling. The stock was up to 8.9 % by 9:55 am London time.

“This investment confirms our belief in the power of London with a portfolio completing our other high -quality investments,” Jayish Patel, head of the United Kingdom’s real estate department at NBIM.

An investment of 306 million pounds by the Norwegian wealth fund comes 25 % in Duke of Westminster’s Grosvenor in January.

The value of the joint project, which once again granted a 25 % stake, reached 1.2 billion pounds, and distinguished the largest sale of external investors in the historic Mayfir property in Grosphenor.

The two agreements bring the total investments of the sovereign wealth fund in London this year to 876 million pounds.

NBIM said on Thursday that Agreed To pay 240 million euros for a 40 % stake in Axa Lifestyle Housing, the owner and housing operator for students and joint property in Spain and France.