ULI New York Blog

Members hear about China’s bubbling outbound real estate investment market at ULI New York’s China Market Breakfast Briefing

Over 60 members attended ULI New York’s China Market Breakfast Briefing on March 22.  Joel Rothstein informed ULI New York members on March 22nd that China’s real estate market is buzzing with outbound investment activity, but that contrasting state policies are having simultaneous “heating” and “cooling” effects on the broader market.

Rothstein, ULI Asia Pacific Member and a partner at Paul Hastings LLP’s Beijing office, said China’s trend toward outbound real estate investment over the past two or three years is one of the most striking characteristics in a state often known for receiving foreign direct investment.

“The general policy in China is ‘go global,’” Rothstein said of national policy, a sentiment he said extends to real estate investment there.

Rothstein said other public policies in China have sometimes conflicting — and, collectively, confounding — effects for firms looking to invest in Chinese real estate. Rothstein said the country’s matrix of policy responses to the global financial crisis are having push-and-pull effects on its real estate market. He said projects that subscribe to publicly stated goals have an edge — for example, proposals for affordable housing development may fare far better than calls for high-end residential projects. He said other specialty investments in high demand in China include:

  • mixed-use development
  • senior living facilities
  • health care projects
  • biotech and research projects
  • logistics facilities and warehousing

 

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