KUALA LUMPUR: There has been an increase in the number of Hong Kong buyers looking to purchase a home at Malaysian-owned Battersea Power Station in London in the past few months as UK immigration policy could pave the way to citizenship for Hongkongers.
Recently, British prime minister Boris Johnson had vowed to overhaul immigration rules to grant almost three million Hong Kong residents a pathway to British citizenship in response to Beijing’s move to impose the national security law as a threat to the city’s autonomy.
Battersea Power Station Development Company (BPSDC) head of residential sales and lettings Mark Hutton said the Battersea Power Station project is luring Hongkongers due to the plentiful green space, proximity to famous shopping areas and prestigious education institutions as well as having an iconic address in London.
“We have seen healthy interest from Asia buyers this year for properties at Battersea Power Station given the ongoing demand for well-located high-quality residential property in London that have a wealth of amenities, ” he added.
As such, BPSDC, the project development manager will be opening its brand new sales and marketing suite in Hong Kong next week to provide potential buyers a dedicated service in the region.
The Battersea Power Station development, which has a gross development value of £9bil, is owned by a consortium of Malaysian investors comprising S P Setia Bhd, Sime Darby Bhd and the Employees Provident Fund.
The Battersea Power Station project sits on a 42-acre mixed development comprising residential, offices, retail, parks and community spaces.
Overall, property agents are seeing an increase in property inquiries in cities such as London and Birmingham after Beijing announced its plan to impose the national security law that many fear will dismantle the city’s political freedom.