Ekaruna - - News Round Up -

Brazil’s bank­ing ty­coon Joseph Safra is ex­pand­ing his em­pire in Lon­don by buy­ing Lon­don’s Gherkin sky­scraper. Safra, Brazil’s sec­ond wealth­i­est man has an es­ti­mated net worth of $12.2 bil­lion, ac­cord­ing to the Bloomberg Bil­lion­aires In­dex. The deal which is es­ti­mated at $1.2 bil­lion comes af­ter the pre­vi­ous own­ers lost con­trol of the sky­scraper be­cause of mount­ing debt, Safra Group said in a state­ment. Safra Group said the deal was con­sis­tent with its real es­tate strat­egy of in­vest­ing in prop­er­ties that are truly spe­cial - at the best lo­ca­tions within great cities. “This build­ing is al­ready a Lon­don icon that is distin­guished from oth­ers in the mar­ket with ex­cel­lent val­ue­growth po­ten­tial. We in­tend to make the build­ing even bet­ter and more de­sir­able through ac­tive own­er­ship that will lead to a range of en­hance­ments that will ben­e­fit ten­ants,” the group said. The Gherkin tower at 30 St. Mary Axe has be­come one of Lon­don’s best-known land­marks ever since it opened a decade ago. Its ten­ants in­clude rein­surer Swiss Re Ltd. and Kirkland & El­lis LLP, a U.S. law firm.

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