UBS turns to Chinese commercial real estate

UBS AG, Switzerland's biggest bank, is planning to 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."