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More than half of City of London owned by foreign investors
Overseas buyers have poured into the Square Mile since the “Big Bang” in the 1980s and the financial crisis has exacerbated London’s status as a safe haven for investment. In 1980, just 8pc of the City’s office buildings were held by overseas owners, but this has increased to 52pc this year, according to research commissioned by property company Development Securities. The last “Who Owns the City?” report in 2006 found 45pc of the Square Mile was in foreign hands. The landmark buildings in the City owned by foreign investors include the Lloyd’s Building, which is owned by Commerzbank, Bishops Square, ... (full story)
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