British papers are buzzing over news that a Russian oligarch has paid a record amount for a London apartment.
Rinat Akhmetov, who is often called Ukraine's richest man, reportedly paid £136.6 million (Dh828 million) for an apartment in One Hyde Park, the Knightsbridge development opened earlier this year. The purchase is a "portfolio investment" for Mr Akhmetov's company, a spokeswoman told the Financial Times.
Prices in London's priciest neighbourhoods have continued to soar, despite the economic slowdown, thanks in large part to international buyers, estate agents say. Overseas buyers now account for more than 50 per cent of purchases in prime central London, according to recent reports.