On August 31, 2012, China Secutimes published an article titled, “The Largest U.S. Real Estate Firm Is Fleeing China’s Real Estate Market; What Signal It Discloses.” Tishman Speyer, a U.S. real estate developer, is trying to sell its properties in China. The two plots of land that Tishman Speyer currently has for sale are in New Jiangwan in Shanghai. One plot is worth 1.6 billion yuan (US$252 million) and the other one is worth 3.2 billion yuan (US$505 million).
Tishman Speyer started developing real estate in China in 2005. Over the last 7 years, it has expanded its real estate projects in several cities such as Shanghai, Beijing, Tianjin, and Chengdu. However, Tishman Speyer has begun the process of withdrawing from China. According to China Secutimes, “In 2012, foreign capital invested in China’s real estate market will probably decrease by 50 percent,” bringing foreign capital invested in China’s property market to the lowest amount in the last seven years.
Source: China Secutimes, August 31, 2012
http://news.stcn.com/content/2012-08/31/content_6797642.htm