HNA group is the most overseas property-selling company in China
According to reports, HNA was the company that sold the most overseas property. HNA was the No. 1 seller among China’s big four conglomerates of Anbang Insurance Group, Fosun International, and Dalian Wanda Group, Bloomberg reported.
The company produced the largest sales throughout the year. The group sold a land in Hong Kong this year to Land Group for $ 2 billion.
In New York, HNA sold 1180 Sixth Avenue to Northwood Investors for $305 million.
The greatest demand for Chinese assets came from the Americans. “The ongoing uncertainties of the trade conflict will put pressure on foreign reserves and the value of the yuan, so capital controls will most likely continue in 2019,” CBRE’s Tom Moffat, head of the company’s Asian capital markets based in Hong Kong, told Bloomberg. He added “selective disposals from Chinese investors, whether they’re looking to strengthen their balance sheets or realize a decent profit from their early investments.”
Sevdenur Demir / realestatecoulisse.com
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