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China Greenland to Invest $2 Billion in London Developments

Greenland Holding Group Co., the builder of one of China’s tallest towers, will invest 1.2 billion pounds ($2 billion) on two property projects in London as Chinese developers branch out overseas.

The state-owned company, which is investing in the U.K. for the first time, will sign an agreement with Minerva Ltd. today to acquire the Ram Brewery site in Wandsworth in southwest London, the two firms said in an e-mailed statement. The completed development will be valued at 600 million pounds, according to the statement. The purchase price wasn’t disclosed.