Great Eagle’s Lo Halts $330 Million London Project
- Group had planned to buy land in Shoreditch for Eaton Hotel
- Project was to include offices and apartments as well
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Great Eagle Holdings Ltd. Chairman Lo Ka Shui said he has suspended plans for a 250 million pound ($330 million) real estate project in London because of the uncertainty following Britain’s decision to withdraw from the European Union.
In an interview in Hong Kong, Lo said that Brexit is likely to send property values lower, noting that seven listed property funds in the U.K. had halted client withdrawals.