UBS will in­vest in com­me­cial real es­tate

China Daily (Canada) - - NEWSCAPSULE -

UBS AG, Switzer­land’s big­gest bank, will ex­pand its Chi­nese property in­vest­ment busi­ness with a move into commercial real es­tate.

Of­fice, re­tail and in­dus­trial prop­er­ties are “where in­vestor de­mand is cer­tainly mov­ing to” in China, Trevor Cooke, head of global real es­tate for Asia-Pa­cific at UBS Global As­set Man­age­ment, said. “The stock of in­vest­ment grade as­sets in China is grow­ing at about 35 per­cent per year.”

The bank will work with a de­vel­oper or a com­pany with an abil­ity to source ex­ist­ing as­sets, he said.

XIN­HUA

A man works high up on a high volt­age di­rect cur­rent trans­mis­sion power grid in Wuhan, Hubei prov­ince.

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