Brunei faces unexpected obstacles in a well-known London real estate project, as the kingdom has been attacked for introducing laws that persecuted homosexuality.
Invited by the Asian sovereign wealth fund to consult on the reconstruction of London's famous Berkley Square Lanston building, the main real estate consultancy either declined the invitation or sought clarification to agree to participate in previous legislative changes, people who understand the process say.
A spokesman for the Brunei fund declined to comment.
Real estate companies are reluctant to engage with Brunei, reminiscent of Saudi Arabia's retaliation from the global investment community after last year's brutal murder of Turkish government agents columnist Jamar kashogi.
These eventually proved to be fleeting, and business interests dominate as fund managers and financial companies resume looking for new opportunities in the oil industry
Rich Middle Eastern kingdom.
In early April, Brunei imposed laws to punish gay, anal, extramarital affairs and rape for death, which in some cases caused strong protests from celebrities such as George Clooney.
Since then, banks including JPMorgan Chase
Deutsche Bank AG has banned employees from staying in London's luxurious Brunei-
With Dorchester hotels, Laifang is one of several real estate companies that canceled the event.
Real estate agent Jones Lang LaSalle
According to people familiar with the matter, they have withdrawn from contracts to manage some hotels in Brunei, and they confirmed a report from property weekly magazine earlier.
A representative of JLL declined to comment.
Strong opposition to Brunei highlights the growing plight of an industry filled with cash from sovereign funds, most of which come from countries with poor human rights records.
"Just a few years ago, I didn't think the industry would respond so decisively," said David Mann, partner at Tuffin Ferraby Taylor, a construction consultancy, who also
Freehold chairman, support network for LGBT community real estate professionals.
"The question is, who will accept these commissions now?
Several companies considering consulting on the Lansdowne project-
One of London's most popular hotels
After office address--
The people said they reserved the kingdom's harsh new legislation and refused to be considered confidential.
The brokers invited to bid include CBRE Group Inc.
Colliers International Group Limited
Kushman & Wakefield and Laifang law firm.
A representative of the companies declined to comment.
Two people familiar with the matter said Brunei Investment has chosen a developer to oversee the project, but the status of the appointment is now being questioned.
Brunei has the most properties in London
Expensive real estate companies are preparing to appoint consultants for two other office projects in Mayfair Street and St. , London's high-end market.
James District.
This may cause further dilemmas for developers and brokers who may not be willing to confiscate fees and payments.
CBRE had previously consulted on Brunei's 61 Curzon Street property, while cusman & Wakefield had consulted on Norfolk properties in the past, both of which were approved for redevelopment.
Brunei Investment Fund has luxury hotels around the world, including Eden hotels in Rome, Athens Plaza hotels in Paris and Beverly Hills hotels in California.
Actor: "Over the years, I learned when dealing with the murder regime that you can't shame them . "and-
Activist Clooney called for a boycott of the UK in the entertainment website Deadline column.
"But you can shame the banks, the financiers, and the institutions that do business with them and choose to change the way.
Global leaders including the United States bipartisan groupS.
The senators accused Saudi Crown Prince Mohammed bin Salman of plotting the horrific murder of kashoji in October.
Middle Eastern authorities have denied any connection between the heir to the throne and have since tried 11 other suspects.
Although the UK has initially experienced a number of global financial institutions to withdraw from its high
The objection proved to be short-lived.
Brunei seeks to defend its decision to implement the new laws, claiming in a letter to the European Parliament that they uphold the sanctity of family origin and marriage and demand tolerance for its values.