Property developer in Hong Kong Hang Lung Properties Ltd. is looking to buy high-quality real estate from distressed peers in mainland China.
Vice Chair of the company, Adriel Chan told Bloomberg, the company is interested in commercial property assets in tier one and tier two cities.
“I’ve been looking very closely at some of the opportunities that the market has presented itself,” Chan said. As for the scale of acquisitions, “the sky is the limit,” he said. “If somebody has a great asset for sale, we’re definitely willing to pony up for it.”
“There’s clearly a lot more opportunities in the market for lowly geared companies and very resilient companies like us,” Chan said, adding that he will be “judicious.”
