Categorized | International

Billionaire Investor Targets Real Estate Projects in China

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Famed and controversial billionaire investor George Soros has announced that he will creating a property fund with the purpose of investing his money in real estate ventures in both China and Hong Kong. The fund has been in the works since the beginning of the year, though there is still no set date as to when it will become official.

Soros is one of a variety of foreign investors who are looking to take advantage of China’s declining residential and commercial property markets. While no set date has been given as to when his fund will become official, rumors have surfaced that Soros will make his first property purchase in China or Hong Kong in roughly four years. It is at that time that many analysts and speculators believe that China will relax its property restrictions.

Soros has continued to meet with property developers and real estate agents in both China and Hong Kong. For both groups, Soros potential investment is certainly welcome. Both property developers and real estate agents have faced serious struggles due to declining home sales and values.

Soros is certainly looking to enter the market at an opportune time. Many property developers and real estate agents are facing a very dim credit outlook, as property sale restrictions have limited cash flow and slowed down sales at a record pace. Soros hopes that the property fund in Hong Kong and China will be another investment that adds to his bottom line. His company currently holds more than twenty-five billion dollars in assets.

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About Nancy Raven

Nancy is the main writer for the International section of the website. Sometimes she also helps Drew out on the Finance/Mortgage section as well.

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