Ian and Richard Livingstone’s London & Regional Properties this week scooped the largest development deal in the world: a $7bn (£3.5m) district in Panama City.
London & Regional was selected to develop the 2,750 acre (1,114 ha) former Howard Air Force Base next to Panama City and the Panama Canal in the Central American country. The decision is still subject to formal ratification by the Panamanian government.
The developer won the site after a final round of bidding against US-based Eastern Group. It is to pay around $705m (£357m) for the site.
London & Regional focused on the European markets until last year when it expanded into South Africa with the purchase of the 200 acre (81 ha) Victoria and Albert Waterfront in Cape Town.