Best Asia real estate editor's comments: not only are the Chinese continue to find places like London but they will start the buying Bali now that they are the number one tourist Bali and they realize it Bali real estate prices are down 20 to 50% from the 2014 hi's and finally they realize are only 4 1/2 hours flight from Bali.
I expect the Chinese with the number 1 Real Estate Investor in Bali the next 3 to 5 years taking second place only two baby boomers who represent potential 750 million boomers in Asia if only 1% by Bali real estate at 75,000 baby boomer buyers.
Check out what the Chinese maybe we are wanting to buy and buy it ahead of time on www. bestasiarealestate.com
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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
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