Najib: Malaysia set to be major player in London property market

Najib: Malaysia set to be major player in London property market

LONDON - There has been an upswing in Malaysians buying property in London and at least two institutions - MARA and the Employees Provident Fund (EPF) - are looking to invest in the London's property market, Prime Minister Datuk Seri Najib Tun Razak said.

He said apartments at the Battersea Power Station development in London for Malaysians had been taken up, which would be good for the British economy.

Najib is on a four-day working visit to London.

The Battersea Power Station development in London is undertaken by a Malaysian consortium led by property developer SP Setia Bhd, plantation giant Sime Darby Bhd and the EPF.

"There will probably be an upswing in Malaysian companies and government-linked companies (GLCs) looking at investing in real estate and purchasing buildings.

"MARA is looking at a few London properties and the EPF, which is flushed with funds, is looking for opportunities to invest here and in other capital cities," Najib said after making the official announcement for the 9th World Islamic Economic Forum (WIEF) at City Hall in London on Wednesday.

Najib added that SP Setia was sure to be looking for more opportunities for other developments.

"Malaysia will be a major player in the London property market," Najib said.

On Thursday, Najib and his British counterpart David Cameron will be attending the ground-breaking ceremony for the Battersea project here.

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