HONG KONG China Vanke Co Ltd said on Thursday it bought an office building in London for 115 million pounds, in its second investment in the British capital.
Chinese developers are stepping up investments in the U.K. as they diversify from a slowing home market amid a weakening currency, while Britain's decision to leave the European Union, along with the subsequent plunge in the pound, makes prized assets more attractive.
Vanke, the country's top property developer currently embroiled in a high-profile power struggle, confirmed media reports that it purchased Ryder Court in Mayfair from U.K.-based Henderson Global Investors.
The company has also jointly invested in a residential project in London which was launched early this year.
Country Garden, China's third-largest property developer by sales, has signed a preliminary agreement to invest up to $2.7 billion in the British city of Birmingham, Chinese state media Xinhua reported on Wednesday.
(Reporting by Clare Jim; Editing by Subhranshu Sahu)