RCA in the commercial property press:

Asia-Pacific Zone Sees Rise in Cross-Border and Domestic Investment

China Daily reports: A recent report put out by Jones Lang LaSalle’s Beijing office revealed that Beijing’s Grade A office vacancy rate fell to a 20-year low during the second quarter of 2011, to just 8.3 percent. The rise in office demand in the nation’s most visible markets is prompting both domestic and foreign investors to take a hard look at China, according to Real Capital Analytics’ (RCA) Steve Williams, who recently stated at a Royal Institution of Chartered Surveyors forum in Beijing that, “Most capital (for property investment) now is circulating within the Asia-Pacific area, and China remains number one in terms of the source of the capital and the target for property investment.”

China Daily referred to cross-border investment data aggregated by RCA to reinforce this trend toward Asia: “Cross-border acquisitions of offices, hotels and retail properties rose by 30 percent to $4.8 billion in the first quarter…Among the top 25 real estate deals by value in the Asia-Pacific region, 15 were conducted in China.”

Domestic firms have been actively buying in China’s CBDs as well; major transactions during the second quarter included Bank of China’s acquisition of Xidanhui Plaza and PICC Insurance Group’s takeover at Chaoyang Plaza, both in Beijing.

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Posted by: Nina Turner

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