A major Chinese state-owned real-estate developer is putting £1.2 billion ($2 billion) into two London projects, continuing a string of overseas investments in the city's booming property market.

Greenland Holding Group on Tuesday bought the historic Ram Brewery site in southwest London, where plans have been percolating for years to build apartments, restaurants and shops. Greenland, based in Shanghai, didn't disclose the purchase price but said it expects to spend £600 million to buy and develop the space.

Separately, Greenland said it plans to invest another £600 million in a residential tower on the other side of London, in the Canary Wharf financial district. The deal is expected to be completed by the end of January.

Greenland is among several high-profile mainland Chinese property companies that have gone on an overseas shopping spree in the past year, purchasing big real-estate projects in cities such as New York, Los Angeles and Sydney.

 

Relevent News in Chinese: 绿地集团118亿元投资英国住宅 “出海”步伐加大

 

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