Kuwait has made a bid of £1.5bn ($2.42bn) to buy a London real estate development that includes City Hall, an amphitheatre, offices and shops and restaurants, it was reported on Friday.
The Gulf state is keen to buy the More London complex next to Tower Bridge in what could be Britain’s biggest property deal, The Times reported.
It said that St Martins, the property division of the Kuwaiti Government, is in discussions to buy the 13-acre site.
More London includes City Hall, the headquarters of London Mayor Boris Johnson, a sunken amphitheatre called The Scoop, office blocks, shops, restaurants, cafes, and a pedestrianised area containing open-air sculptures and water features, including fountains lit by coloured lights.
The buildings were designed by Foster and Partners architects and some are still under construction.
In July, it was reported that Kuwait’s sovereign wealth fund will invest up to $5bn in British infrastructure assets over the next three to five years.
According to London’s The Financial Times, Kuwait Investment Authority (KIA) will seek to invest in existing projects in the country that are already creating cash flow.
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