UK's Grosvenor seeks Shanghai sites for China office project
Hong Kong
GROSVENOR Group, the real estate firm owned by the Duke of Westminster's family, is looking to bid for land in Shanghai for its first large-scale development in China amid falling property prices.
The company wants to build prime offices for long-term investment on the sites, Nicholas Loup, Grosvenor's departing Asia chief executive officer, said in an interview on Wednesday. It will probably work with partners and may bring in investors such as pension or sovereign funds, he said.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Airbnb promises to combat sex work in rentals during Paris Olympics
Hong Kong property deals hit three-year high in April
More homes planned in Media Circle to support housing demand
Qatari Sheikh sells London mansion to fellow royal for £39 million
Toronto home sales fall for third month in April; prices rise
Far East Shopping Centre owners in private talks after close of S$928 million en bloc tender