People

Safras gobble up the Gherkin

One of the world’s most revered banking dynasties is buying some of the world’s most distinct skyscrapers as they broaden their investments in commercial property.

The Safra Group, controlled by Joseph Safra, has bought one of London’s most recognizable office blocks, the Norman Foster designed Gherkin, for an undisclosed sum, although independent analysts reckon the price is £700m.

The deal comes a year after M. Safra & Co, a family office set up by Joseph’s deceased brother Moise and now run by members of the family, jointly purchased a 40% stake in New York’s General Motors building for an estimated $1.4bn. The other purchaser was the Chinese property developer Zhang Xin. The Safra family have acquired commercial property around the world, much in pretigious locations like London’s Bond Street. 

Joseph set up and controls Banca Safra, one of Brazil’s biggest banks. He also has investments in numerous businesses including a recent deal to take over the banana producer and distributor Chiquita.

Joseph was one of the four sons of Jacob Safra, a Lebanese banker. One of those brothers was Edmund Safra, one of the most successful bankers of the 20th century, who set up the Republic Bank of New York and sold it to HSBC shortly before his death in December 1999.

Subscribe

You will need a Premium Plus Subscription to access this database.

Exclusive news, analysis and research on global family enterprise and private investment offices.

Access to the most comprehensive fully interactive database on global family offices, principal investment offices, and family enterprises.

Check Deal Data, Senior Staff, and New Analysis on more than 1000 family/principal investment and holding groups

Already have an account? Login

Subscribe

You need at least a Premium Subscription to read this article.

The most comprehensive information service on the global family enterprise world, featuring exclusive news, analysis, research and data on global family enterprises, family offices, and private investment offices.

Premium

£299

per year

  • Exclusive reports, analysis and commentary
  • Exclusive access to family/private investment office deal information
  • Exclusive interviews with principals and senior management of family/investment offices
SUBSCRIBE NOW

Premium+

£399

per year

  • Access to All of Premium
  • Access to all of FamilyCapital Analytics, our interactive database with more than 1000 detailed profiles of family investment groups

More Info

SUBSCRIBE NOW

Already have an account? Login

You've reached the end.

Continue reading free articles by registering as a Member.
Or choose a Premium Plan.

Membership

Free

  • Exclusive reports, analysis and commentary
  • Receive the twice-weekly newsletter
REGISTER NOW

Premium

£299

per year

  • Exclusive reports, analysis and commentary
  • Exclusive access to family/private investment office deal information
  • Exclusive interviews with principals and senior management of family/investment offices
SUBSCRIBE NOW

Premium+

£399

per year

  • Access to All of Premium
  • Access to all of FamilyCapital Analytics, our interactive database with more than 500 detailed profiles of family investment groups

More Info

SUBSCRIBE NOW

Already have an account? Login