Abu Dhabi Financial Group (ADFG) has acquired New Scotland Yard, the headquarters of the London Metropolitan Police, for £370 million (Dh2.1 billion).
The company plans to redevelop the 600,000 square foot site in Central London into a world-class multi-use development.
ADFG said in a statement that it was the preferred bidder ahead of 10 other competitors for the property owned by the Mayor’s Office for Policing and Crime.
The building, located on Victoria Street in Westminster, has been the Met’s home since 1967.
The acquisition follows on from the announcement last month that ADFG had completed a £310m deal for the redevelopment of 1 Palace Street, situation adjacent to Buckingham Palace.
1 Palace Street is expected to be completed in 2017 and comprises 72 apartments, a restaurant and health and fitness centre.
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