A keynote presentation titled ‘US Investors Abroad: Emerging Markets – Friend or Foe?’ at the Cityscape USA conference in the Javits Center brought together a mixed panel of industry experts.
The panel focused on where the opportunity lay for US investors seeking to expand globally. Given that there were not a lot of funds that were willing to go global yet, and that the typical foreign investment came from ‘entrepreneurial capital, opportunistic and private investment.’
China came up as a country in which there was a lot of activity. The situation was summed up as ‘long term — bullish, short term — cautious.’
When the question was posed to list the top investment opportunities in foreign markets, the answer came, ‘China, China, China.’
Dr. Jane Murray, head of Asia Pacific Research and international director at Jones Lang LaSalle said, ‘The growth rates are staggering.’
She did have a few warnings about China, which has seen a lot of ‘overheating’, in her terms, of its real estate market, as of late. The central government put ‘restrictive measures’, she explains, to cool the market down, some of which are monetarily prohibitive, such as forbidding foreign borrowers to be involved in a deal.
She said, ‘China is not an easy place to do deals at this time.’ There are still deals getting done, she explains out, but you have to look more toward development in second tier cities.