Regional sovereign wealth funds rack up $5.6bn worth of deals | The National:
"Middle East sovereign wealth funds completed seven major direct property deals worth a total of US$5.6 billion last year – and more big ticket purchases are expected over the coming months.
The deals involved commercial, retail and hotel properties.
According to the property broker JLL, the Kuwait Investment Authority sealed the largest middle Eastern sovereign wealth fund deal last year when St Martins, the property division of the Kuwait government, agreed to buy the 13-acre More London office and restaurant complex near London Bridge in London for $2.7bn.
Abu Dhabi Investment Authority, the world’s second largest sovereign wealth fund, sealed the second largest deal for Middle Eastern funds last year when it bought a $712 million portfolio of 31 hotels across Australia from Tourism Asset Holdings."
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