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Arabs Are Now New Owners of Scotland Yard

The famous buildings of Scotland Yard, the headquarters of London’s Metropolitan Police, have been sold to Arab investors from the “Abu Dhabi Financial Group” for £370 million ($580 million). The building, which had notable “role” in many films and TV series, so it becomes another symbol of London after the “Cucumber”, which recently bought by foreigners. Detectives and bobbies will have to move to another location, and investors will take off the famous board “New Scotland Yard” to renovate the complex, where will be apartments, offices and a hotel. The group of investors from Abu Dhabi had to pay 120 million pounds more than the initial price for the area of 6.900 square meters, and the British media described this auction as “extremely competitive”.

Arabs Are Now New Owners of Scotland Yard
The sale of the building in the business complex built in the sixties was estimated in the office of Mayor of London Boris Johnson as the “core business”, which will allow the citizens of London greater security and police better conditions.
“In this situation, everyone wins. The cops will get new equipment, Londoners modern, efficient police service they deserve, and the public £100 million for our schools and hospitals,” said deputy head of CID Stephen Grinhal.
Although the sale was announced in September with a starting price of £250 million, with the expectation to be done only in 2015, the building at 10 Broadway has attracted a lot of attention.
“We are selling outdated building which capacities we didn’t use. Now, not only we can protect this rich heritage, but also to finance new police headquarters, to equip bobbies. This key business allows us to preserve our past, but also to give a financial injection to the present ‘Met’ (police) that will help them to keep London safe, “said Mayor Johnson.
Police will move into the building, “Curtis Green,” which will annually save £6 million.
London media remind us that “Abu Dhabi Financial Group” has already renovated a building close to Buckingham Palace and that is one more company from the Middle East and Asia that buys valuable real estate in the British capital.

Arabs Are Now New Owners of Scotland Yard

Written by Slamchica

Aleksandra Arsenovic graduated with a degree in economics and has a master degree in tourism. Since she worked as a travel agent, she has traveled around the world and developed an interest in luxurious hotels and exotic destinations. As a big fashion fan, Aleksandra loves expensive and luxury fashion items. As an editor of Extravaganzi she shares her knowledge about travels, fashion and accessories.

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