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Chinese tycoons top list of Britain's richest property investors

Wang Jianlin and Cheng family top rich list as Duke of Westminster falls down asset rankings

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Tycoons from China have come from nowhere to top the list of the UK's wealthiest property investors for the first time, ending the Duke of Westminster's 10-year reign at the No1 spot.

China's richest man, Wang Jianlin of the Dalian Wanda group, topped the 2013 with an estimated fortune of £10.4 billion (HK$131 billion), closely followed in the No2 spot by New World Development chairman Henry Cheng Kar-shun and his family at £10.2 billion.

Neither Wang nor Cheng appeared in the top 250 last year.

The shake-up comes as the London property market sees more Asian money flow in, according to the 155-year-old magazine that compiled the list.

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"London is such a transparent market, with iconic buildings, and with the new land opened up, we have overseas buyers flooding into the market," said Noella Pio Kivlehan markets editor of .

With iconic buildings ... we have overseas buyers flooding into the market
NOELLA PIO KIVLEHAN
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