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Investors expected to direct their gaze towards Shanghai

Investors direct gaze towards Shanghai

A strong interest in commercial real estate held by investors worldwide will be directed towards Shanghai, industry experts say.

The economic recovery and optimistic outlook concerning China’s commercial properties have pushed foreign investors in the direction of China’s most densely populated city.

This is according to report from international property consultant Knight Frank, which indicated that Shanghai’s office and retail property sectors will experience considerable increases in large-scale deals this year.

The forecast was backed by investors’ notable interest in commercial real estate, which will fuel an increase in property transactions involving international investors in China in 2013.

China – and Shanghai in particular – is still a favourite for multinational companies seeking new business opportunities through expansion.

Despite the country’s slowing economic growth and global financial turmoil, retailers retain confidence in the market and demand for commercial and residential property will stay afloat, according to Regina Yang, director of research for Knight Frank Shanghai.

She added that strong confidence meant that investors continue to open new stores in Shanghai.

MGPA, a private equity real estate investment advisory company managing assets in Europe and Asia, recently announced that it has successfully acquired a newly completed Grade A office building called j-Tower in Shanghai.

John Saunders, chief executive officer of Asia, MGPA, said: “This is a good opportunity to buy a quality commercial property in Shanghai. We anticipate strong leasing interest from both domestic and foreign firms looking for quality and convenience.”

In addition to welcoming overseas investors, China is also extending its reach by venturing into foreign territory.

Chinese property deals abroad rose sharply last year to $1.86 billion from $547 million in 2011 and $90 million in 2010, according to data from Dealogic. Excluding Hong Kong, deals last year hit a total of $450 million, a 46% jump from 2011.

China Vanke, the world's largest home builder by revenue, said in February that it was investing in a joint-venture luxury condo project with a total of 655 units in San Francisco with Tishman Speyer.

"Outstanding companies need to have a global perspective," said Vanke Chairman Wang Shi.

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