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ME funds eye NY buildings
- Saturday, May 31 - 2008 at 10:44
Sovereign wealth funds from Kuwait and Qatar are in talks to snap up several buildings in New York, which has become a growing trend amongst Middle Eastern investors in recent years, reported the UK's Financial Times. The funds have emerged among a group of investors led by Boston Properties in discussions to buy the GM building, a prize asset overlooking Central Park which carries a suggested price tag of $2.8bn, which would be the highest price ever paid for a US building. The group is also seeking to buy four other Manhattan skyscrapers, all of which are owned by Harry Macklowe, a New York property tycoon.
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Jeff Florian, Senior ReporterSaturday, May 31 - 2008 at 10:44 UAE local time (GMT+4)
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