www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Companies

China Life in latest overseas property move

By Shi Jing (China Daily) Updated: 2015-11-06 08:05

China Life in latest overseas property move

A pedestrian walks past an advertisement for China Life Insurance in Beijing, China, Oct 29, 2013. [Photo/IC]

$4.55b financing deal in the US marks continuation of shift by insurers to globalize investment portfolios

China Life Insurance (Group) Co, the country's largest insurer, has announced its involvement in a major overseas property investment-the latest in a series of real estate moves by the company, as it targets leading international markets.

The company has joined forces in helping finance the all-cash $4.55 billion acquisition by Singapore-listed Global Logistics Properties Ltd of a controlling 66 percent stake in Industrial Income Trust Inc, a Denver-based industrial real estate trust.

Partly owned by the Singapore sovereign wealth fund, GLP's portfolio of nearly 300 industrial properties is spread across 20 major markets. That includes owning and managing 48 million-square-meters of logistics facilities worth $33 billion in China, Japan, Brazil and the United States, said Ming Z. Mei, its chief executive officer.

It is not the first time GLP and China Life have worked closely together. Last year, the two partnered when GLP signed a $2.5 billion landmark agreement with a group of Chinese State-owned enterprises and leading financial institutions to enhance GLP's access to land, leasing demand and new business opportunities in China.

Listed in New York, Hong Kong and the Shanghai stock exchanges, China Life's shares have performed well on all the three markets. On Thursday, its share price rose 1.87 percent to close at 28.83 yuan ($4.54) in Shanghai and 0.87 percent to HK$28.9 ($3.73) in Hong Kong. In New York its share price rose 2.23 percent to close at $18.3 on Wednesday.

China Life's other recent headline overseas deals included joining with Ping An Insurance and global property developer Tishman Speyer in April this year, to launch a $500 million Boston development project, known as "Pier 4". It also co-invested with Qatar Investment Authority and Songbird Estates to buy "10 Upper Bank Street" in London's Canary Wharf, in 2009.

JLL, the international real estate investment and management firm, pointed out in its latest survey that Chinese insurance companies are making a structural shift to globalize their investment portfolios, and that includes the real estate sector. Continued loosening of outbound investment regulations since 2012, it said, is driving leading firms to actively seek real estate assets in key cities around the world.

Darren Xia, head of JLL's international capital group in China, said: "This leaves big potential for inflows to property, as China's insurance industry develops."

JLL forecasts that Chinese insurance groups are expected to allocate up to $240 billion into real-estate deals outside of the country over the years to come. Their property holdings, however, still remain a small 1 percent, compared with US or European counterparts, which tend to have real estate allocation targets of 5-15 percent.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 欧美日本道免费一区二区三区 | 欧美日韩日本国产 | 久久日本三级韩国三级 | 亚洲欧美日韩中文字幕在线一区 | 久久久久久久性潮 | 国产高清一区二区三区视频 | 欧美黑粗特黄午夜大片 | 在线观看精品国内福利视频 | 中文字幕 亚洲一区 | 亚洲欧美日韩在线不卡中文 | 日韩一级欧美一级在线观看 | 九九热爱视频精品视频高清 | 国产福利片在线 易阳 | 国产精品久久久久久久久久久威 | 91九色国产 | 国产欧美日本 | 一级欧美毛片成人 | 亚洲国产欧美在线成人aaaa | 99久久精品国产免看国产一区 | 在线视频日韩 | 久久se精品一区精品二区 | 国内成人免费视频 | 欧美亚洲精品在线 | 色站综合| 国产精品综合久成人 | 视频一区二区三区在线 | 在线观看一级 | 精品国产v无码大片在线观看 | 中文字幕亚洲高清综合 | 伊人短视频 | 亚洲专区视频 | 色屁屁一区二区三区视频国产 | 日韩中文精品亚洲第三区 | 精品综合| 一区二区三区 日韩 | 99在线视频观看 | 成人区视频 | 激情宗合网 | 精品厕拍| 亚洲一级毛片视频 | 国产亚洲欧美一区二区三区 |