Chinese insurer buys the skyscraper Lloyd's of London

London - Chinese companies are initiating the anticipated wave of commercial real estate purchases in London. The Chinese insurance company Ping An has purchased a listed skyscraper, which serves as the headquarters for the insurance market Lloyd's of London. The previous owner of the building, the German fund managed by Commerz Real, will receive 260 million pounds (approximately 7.8 billion CZK) for the building.
    Investors expect a sharp increase in interest from Chinese companies in foreign real estate. This is expected to be aided by regulatory changes that ease restrictions on Chinese firms' investments in overseas real estate. Besides London, experts anticipate increased interest in other major European cities, such as Paris and Frankfurt.
    The Lloyd's of London building is a listed building - designed by architect Richard Rogers. Its service facilities, such as air ducts, electrical conduits, and elevators, are located on the exterior of the building. This is similarly seen with the Paris cultural center and museum Centre Pompidou, which was designed by Renzo Piano in collaboration with Rogers.