More than 45,000 wealthy Chinese who had hoped to gain Canadian residency may be looking for a new haven outside of China after Canada cancelled its investor visa program last week.
The move by Canada’s government came within one week… Read More>>
Chinese Firm Teams with Sentosa Developer for US$2.2B S Korea Casino
A Chinese developer is teaming up with the company behind one of Singapore’s Sentosa casinos to invest US$2.2 billion in a new gambling-centred project in South Korea, the companies announced this week.
The joint venture between Genting Singapore Plc and… Read More>>
Chinese Investment in London Real Estate a Top Global Trend
Chinese investment in UK real estate didn’t just make headlines in China last year, according to one recent report, the flow of Chinese wealth into downtown London is a top global trend.
Chinese investors were behind a number of attention-grabbing… Read More>>
HK Group Invests $1.9B in Dubai and Bets on 12 China Senior Homes
A little-known Hong Kong company has agreed to invest US$1.9 billion to turn around a stalled Dubai property project, and sell off pieces of it to Chinese investors.
At the same time, the Dubai-based firm that lacked the funds to… Read More>>
Cameron says China’s Wanda to invest up to $5B in UK
Dalian Wanda, the property developer headed by China’s richest man, plans to invest up to 3 billion pounds ($5 billion) in regeneration projects in Britain, Britain’s prime minister said on Friday.
Prime Minister David Cameron unveiled the investment after meeting Dalian Wanda’s chairman Wang Jianlin in Davos this week. It comes after Cameron led the largest-ever British mission to China last December that involved about 100 business people.
Study Documents $458.3 billion in China Outbound Wealth Transfer
About 2.8 trillion ($458.3 billion) of the 33 trillion yuan ($5.45 trillion) of assets owned by rich Chinese was transferred overseas in 2011, equivalent to 3 percent of China’s GDP in the same year, according to a blue book published on Wednesday.
“Rich” refers to those who individually possess more than 6 million yuan of investable assets.
Hong Kong is the most popular asset transfer destination for rich Chinese, attracting 22 percent of the 2.8 trillion yuan. The United States came second, attracting 21 percent of the assets. About 16 percent of the assets went to Canada. Switzerland, Singapore and Australia.
More Chinese Securing Investor Visas to Move Overseas
Migration for investment in overseas real estate markets has become a top choice for Chinese applicants, according to a report on China’s migration status released on Wednesday.
The Annual Report on Chinese International Migration 2014 shows that a growing number of Chinese investors are rushing to go abroad in order to buy properties and establish permanent residence in places like Europe and North America.
China’s Fosun Confident It Has Cash to Buy Portuguese Insurer
Chinese conglomerate Fosun International Ltd (0656.HK), which is rapidly becoming one of China’s leading global investors, today reassured investors that it has adequate cash to finance its proposed 1 billion euro purchase of Portuguese insurer Caixa Seguros e Saude.
The company also indicated that it will continue to look for investment opportunities outside of China.
Hong Kong’s Fu Wah Group Buys Melbourne Park Hyatt for A$135m
A privately owned Hong Kong real estate developer added to the flood of Chinese money into Australia this week by picking up the Melbourne Park Hyatt Hotel for a reported A$135 million (US$119.78 million).
The five star hotel is located near Melbourne’s Parliament House at 1 St Andrews Place and was developed in 1999 by Lustig & Moar at a cost of $150 million. The sale involves both the 240 room Park Hyatt hotel and an adjoining commercial car park.
Savills Report Finds 111% Increase in Real Estate Deals by the Super-Rich
Investment in big ticket real estate deals by private individuals has risen more than 111 percent in the last five years, with Asian investors leading the surge.
A new report by real estate services firm Savills, in partnership with Singapore cosultancy Wealth-X finds that while corporate real estate investments have increased 43 percent since 2008, real estate acquisitiosn in excess of US$10 million by the world’s wealthy rose by 111 percent in the same period.
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