UBS will invest in commecial real estate
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.
A man works high up on a high voltage direct current transmission power grid in Wuhan, Hubei province.