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Business / Companies

HNA buys landmark building in London

By Wang Wen and Zhang Chunyan (China Daily) Updated: 2015-09-01 07:45

"China-UK economic and business relations have become more mature and there are now several firms, including private enterprises, present here. The UK is an open market, which is keen to attract overseas investment and the same view is shared by the government and companies," Jin said.

Although the acquisition is HNA's first move in London, the city has been attractive to Chinese investors for a while, as the largest economic center in Europe.

Around $4 billion investment from China went to London in 2014, which made the city the largest investment destination for Chinese capital, according to JLL, the Chicago-based global real estate services firm.

Chinese investors are trying to ensure long-term income through investments in the overseas real estate market, at a time when the Chinese economy is slowing, said analysts. Most of these investments are concentrated in major cities like London.

"Chinese investors still have strong passion for overseas real estate and the total investment may reach $20 billion by the end of this year," said David Green Morgan, head of global research for the international capital group at JLL.

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