Mitsubishi Estate is planning to plow more money into the U.K. as economic uncertainty and trade turmoil prompt the property investor to diversify beyond the United States.
The Tokyo-based developer is rethinking its allocations to the U.S., meaning Britain and continental Europe could see more investment from the firm, according to Masa Iwase, the company’s senior executive officer and head of international business group.
While many Japanese investors had been “very aggressive” in investing in the U.S. over the last five years, the market there is a “little bit confusing right now,” Iwase said this week in an interview during the breaking-ground event of his firm’s £800 million (¥160 billion) commercial project in London’s South Bank.