Foreign Investors Are on a Record China Property Spree
Foreign investors are increasing their presence in China’s commercial real estate market, taking advantage of the deleveraging drive that’s squeezing the nation’s companies.
Overseas firms may be set to sustain a resurgence that last year sent their purchases to a record $9 billion nationwide and accounted for just over half of all sales in Shanghai. Blackstone Group LP and Singaporean developer CapitaLand Ltd. are among those leading the charge.
The upswing comes just as some of China’s biggest private conglomerates — like embattled HNA Group Co. — are unwinding overseas property buying binges. In some cases, they’re also selling domestic real estate.