BlackRock looks for bargains in China’s soft real estate market
BLACKROCK, the world’s largest asset manager, has turned its attention to Chinese real estate, intending to make the most of softening markets there.
The company announced it is ready to increase its portfolio exposure, focusing on affluent, high-end mass-market shopping malls and premium grade offices in China’s biggest cities.
John Saunders, head of Asia-Pacific real estate, told Reuters in an interview yesterday that, “China has become our key market for sure. We see the current malaise as a good entry point that we believe will throw up some good opportunities.”