German investment company Union Investment Real Estate has completed the sale of its interest in the 288-metre The Pinnacle development to Arab Investments, allowing the next construction phase for the City of London's tallest building to proceed. The deal, announced at the end of February this year, was said to be worth about £200 mln, although the two companies decided to keep the price confidential. The skyscraper, with an estimated value of £1 bn, will include some 47 floors of offices and three levels of retail in the base.
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