Best Asia real estate editor's comments:
Not only are the Chinese continue to find places like London, Thailand but they will start buying Bali now that they are the number one tourist Bali and they realize that Bali real estate prices are down 20 to 50% from the 2014 highs and finally they realize we are only a 4 1/2 hour flight from Bali.
|Best Asia Real Estate editor Lawrence in Macau 2016|
I expect the Chinese with to be the number 2 Real Estate Investor in Bali the next 3 to 5 years taking second place only to the potential 750 million Baby Boomers in Asia. If only 1% buy Bali real estate at that's 75,000 new buyers of Bali Real Estate.
Check out what the Chinese may be wanting to buy and buy it ahead of time on www. bestasiarealestate.com
UK affiliate of Fosun has acquired London’s Royal Exchange for $58M
October 06, 2018 02:00PM
Guo Guangchang, chairman and co-founder of Fosun International (Credit: Getty Images)
The overseas buying spree for Chinese companies hasn’t come to a complete halt – at least not for everyone.
The United Kingdom affiliate of Fosun International, a Chinese conglomerate, has purchased London’s historic Royal Exchange building for $58.4 million, according to the South China Morning Post. The affiliate, Resolution Property, purchased four floors in the property spanning 68,000 square feet from the European investment firm MARCOL.
The Royal Exchange in London, England (Credit: Getty Images)
Fosun bought 60 percent of Resolution Property in 2015 for $17.9 million and uses it to buy properties in Europe. Fosun’s co-founder Guo Guangchang said in August that the company would keep trying to expand its footprint through international deals, although it has lessened its overseas investments since the Chinese government tightened rules on moving capital out of the country.
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However, Paul Hastings partner Paul Guan told the Morning Post that this did not ban companies from investing overseas entirely.
“A lot of companies have been doing outbound investment for a long time,” he said. “They have reputable local partners, do not overbid and have proved that their overseas investments are for the purpose of diversifying their portfolios for better returns. The door on overseas investments in real estate has not shut down.” [South China Morning Post] –Eddie Small