Malaysia Looking For London Brexit Bargains

Malaysia’s state-owned pension fund – the Employees Provident Fund or EPF – is looking to cash in on falling valuations to add to its London property portfolio ahead of impending Brexit later this year, it is reported.

EPF chief executive officer Tunku Alizakri told Nikkei Asian Review that he is currently finalising deals in the UK and is looking for more. Alizakri commented: “This is the time to go into the UK. In the long-term, I believe London is still very resilient.”

EPF has recently invested £1.58bn jointly with Malaysia’s largest asset management firm Permodalan Nasional Bhd in commercial assets at the Battersea Power Station redevelopment. It also purchased Sports Direct International’s logistics facility in May.

Many overseas investors have been looking for Brexit bargains over the last couple of years. However, it is debatable whether there has actually been a Brexit fire sale with London commercial values proving resilient over that time – partly due, most likely, to overseas’ investors cash supporting the market.

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Source Nikkei Asian Review
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