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FINANCIAL NEWS
Kuwait takes over BoA London HQ for USD600m
07 Feb 2013
(MENAFN) A deal to transfer ownership of Bank of America’s Europe headquarters in London to Kuwait Investment Authority (KIA) was completed, Property Investor Europe magazine reported.
The USD600 million sale of London’s 5 Canada Square signals the increasing interest from Middle Eastern sovereign wealth funds in prime office space in the British capital.
The magazine said that Kuwait’s sovereign wealth fund KIA has the opportunity to double the height of the site and in doing so double the size of the floor space.
The building was bought from private equity group Evans Randall which acquired the property in 2007 for USD707.7 million in the wake of the global financial crisis, and leased it to Credit Suisse until 2027.
KIA, which has an estimated USD300 billion of assets under management, also owns the Willis Building, the fourth largest office building in the City of London, and 60 Threadneedle Street.
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24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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