Kuwait had made known its intentions to offer as a bid the amount of GBP1.5 billion or USD2.42 billion to purchase a London real estate development. The development would include the City Hall, an ampitheater, offices, with shops and restaurants. The said bid was reported last Friday.

The Gulf kingdom was keen to purchase the More London complex located very near the Tower Bridge. The said purchase is projected to be the biggest property deal in Britain, according to a report from the Times of London. The report identified St Martins, the property division of the Kuwaiti Government as the representative in the discussions over the 13 acre estate.

The architects for the project were Foster and Partners, many of which are still being constructed.

Last July, the Kuwaiti sovereign wealth fund announced its investment in British infrastructure in the next three to five years. The amount pledged was USD5 billion. According to a report by the Financial Times, the fund would be seeking out existing projects with a ready revenue stream as targets for their investments.