Greenland has denied rumours that it plans to sell its developments in the UK following pressure from Beijing.
The Chinese developer appointed Knight Frank and CBRE to sell its Ram Quarter development in Wandsworth earlier this year, as revealed by EG. At the time the developer confirmed it was “exploring the market to consider the potential future”. However, is now thought to be considering a sale of The Spire, its planned 771-ft residential tower in Canary Wharf.
China’s president Xi Jinping is attempting to curb rampant property markets and cut debt in the sector. There is also increasing suspicion of investment overseas, which has triggered crackdowns on the tech sector.
A spokesperson for Greenland said: “Reports of Greenland exiting the UK market are inaccurate and based purely on speculation. We remain committed to both of our existing projects in London and we intend to use our experience to pursue further property opportunities in the UK.
“Our commitment to the UK includes taking forward our development at Spire London as a high-quality, landmark project that responds to the ongoing residential demand in London’s docklands.”
