| | London sees surge of Hong Kong house-hunters
The focus is very much on residential real estate this week with a raft of news covering investments, developments and acquisitions across Europe, including the Netherlands, Spain, Denmark and Ireland.
The UK gets a look in too, with news of a rush by Hong Kong nationals, to acquire ‘substantial family homes’ in London or to ‘upsize’ existing properties. The surge is no doubt in response to the passing of a new security law by the Hong Kong government which has been condemned around the world as threatening freedoms supposedly guaranteed for 50 years when British rule ended in 1997. And with the UK preparing to offer a route to citizenship for up to three million Hong Kong residents as a result, the London property market could be set for a further influx of Hong Kong house-hunters.
Legal & General meanwhile, has underlined its green credentials in the residential market by committing to making all of its new housing stock – build to rent, build to sell, later living, and affordable housing – operational net zero carbon enabled by 2030. “We have to build back better after Covid-19,’ says Chief Executive Nigel Wilson.
Staying with carbon concerns, Allianz Real Estate has provided EUR200 million in financing for the Arboretum development in Paris, the first office campus in French capital to be constructed primarily from wood and also the largest solid-wood office development in Europe. “Arboretum’s carbon footprint will be positive compared to traditional concrete buildings,” says Allianz Real Estate’s Head of European Real Estate Financing Roland Fuchs.
And finally, the news at the end of last week that shopping centre operator intu had gone into administration, may have been a blow for the struggling retail real estate sector, but as Hugh Leask reports, a number of hedge fund short sellers look set to cash in having placed bearish bets against the debt-laden firm…
Property Funds World
| | | | | | | | | | | | | | | | | | | | | | | | Legal & General commits to net zero carbon across its housing portfolio | | Thu | 2 Jul 2020, 12:44 | | Legal & General is to make all of its new housing stock operational net zero carbon enabled by 2030. This will be implemented in a phased approach across all homes invested in or built by Legal & General Group including: Build to Rent, Build to Sell, later living and affordable housing. |
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