Chinese insurance firms may seek real estate investments overseas- CBRE Group
The CBRE Group Inc said insurance companies in China could spend an estimated USD 14.4 billion in real estate investments abroad. CBRE Group is the world's largest real estate commercial estate firm based on revenue. CBRE also said that the insurers would be interested in commercial real estate investments in London, Toronto and New York. The Chinese companies would also be eyeing Singapore, Hong Kong and Malaysia.
CBRE said supportive regulations at home and a stronger currency paved the way for insurers to make overseas investments. CBRE Head of Research for China Frank Chen also said that the lack of prime properties in the mainland had prompted insurers to look for more lucrative investments abroad. "Most of the Chinese investors with sufficient capital are now facing limited domestic investment channels. Factor in the escalating purchasing power enabled by the continuous appreciation of the renminbi and now is the ideal time for Chinese capital to enter the overseas market," he said.