Dubai-based investment house Istithmar has bought two business parks near a new terminal of London’s Heathrow Airport for more than 200 million pounds ($386.6 million), the company said on Thursday.
Aviator Park in Addlestone and Causeway Corporate Centre in Staines near London were sold by clients of private property group Delancey, it said in a statement.
“We expect these locations to benefit greatly from proximity to the new airport terminal and their accessibility from the M25 (motorway),” Istithmar managing director Richard Johnson said. “They also provide exciting portfolio management and further development opportunities in a key sector …”
Istithmar’s real estate business holds commercial, residential, tourism and retail property around the world including prime real estate in London and New York.
It has declared a strategy of assembling a portfolio of assets in prime locations in Britain.
Istithmar is wholly owned by state-owned Dubai World, which manages projects for the government of Dubai.
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