Swiss investment banking giant UBS (UBS.NYSE) is planning a second fund to expand its Chinese property investment business into commercial real estate, Bloomberg reported. Office, retail and industrial properties are “where investor demand is certainly moving to” in China, Trevor Cooke, head of global real estate for Asia-Pacific at UBS Global Asset Management, said in an interview in Sydney. “The stock of investment grade assets in China is growing at about 35% per year.” The bank would either partner with a developer or a company with an ability to source existing assets, he said. UBS plans to offer clients the option of investing in Chinese property using either US dollars or yuan, Cooke said.
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