Saudi's Jadwa Investment and CIT acquired London King’s Reach Tower for $90 million

Jadwa Investment, an investment manager part-owned by the Saudi royal family, and European investor CIT bought London King’s Reach Tower for more than $90 million and are planning on spending a further $300 million on the building - The London Offices News is reporting

The 31-storey tower situated on London’s south bank overlooking the Thames is currently unoccupied and has planning permission for a redevelopment, along with the adjacent podium building. Buyers hope an improvement in the economy will solve the problem of the lack of tenants in the near future. King's Reach Tower is the fourth joint Jadwa-CIT acquisition. The companies are planning to spend an additional almost $752 million on investing in the UK property sector in the future.

Jadwa Investment is listed in the Middle East Investors Directory with the code BFD82.

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