LaSalle eyes hotels, logistics properties
Updated: 2012-02-28 13:54
By Hu Yuanyuan (chinadaily.com.cn)
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BEIJING — LaSalle Investment Management, a US-based real estate fund, is seeking opportunities in China's logistics properties and hotels, the company's international director said on Monday.
"With the rapid growth of China's e-commerce business, there is strong demand for qualified logistics properties. And China's tourism will also flourish as people's incomes improve, thus boosting the demand for hotels," said Jacques Gordon, international director of LaSalle.
According to Paul Guest, regional head of research and strategy at LaSalle Asia-Pacific, Chengdu, Nanjing, Tianjin, Dalian, Suzhou and Wuhan are primary targets in which the fund will be invested.
However, due to the EU's debt crisis and US' economic slowdown, Gordon said there will be a drop in the flow of international capital into China's property market this year.
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