The man behind a £1.7 billion property development on the banks of the River Thames says the ongoing uncertainty surrounding Brexit is making his clients nervous about the future of London and Britain.
“Brexit in itself is not scary. What is scary is the prolonged indecisiveness and conflict, making the problem more complicated than it should be,” Xu said. ABP would continue to develop the project despite the sales and funding pressures, Xu said, adding he was talking to strategic investors, though he declined to name any.
At the same time, Britain is still a hot investment destination for investors from the Chinese mainland and Hong Kong. British newspaper The Guardian reported last month that Chinese companies had spent £6.75 billion on 15 major acquisitions in Britain this year, including Li Ka-shing’s US$3.3 billion purchase of pub chain Greene King. Chinese buyers spent US$6 billion on 23 British deals last year.