Grosvenor Group Ltd. is looking for opportunities to buy land in Shanghai, as it seeks to take advantage of a downturn in the market there and reduced competition.
Tighter liquidity and a slowing economy have meant locals have turned cautious on the property market.
“I would think we’ve got a window that could be another six to 12 months,” Nicholas Loup, the group’s departing Asia chief executive officer, said. “I’d say there’s more availability of better-quality opportunities at sensible prices with less competition than there would normally be.”
The company is looking for sites to build offices, and could work with partners and seek investment from pension or sovereign funds, Mr. Loup said. The investment would be Grosvenor’s first large-scale development in China.
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