HNA International Investment Holding Ltd. (00521.HK) is planning to enter the Hong Kong property market, executive director and president Xu Haohao said.
The company is especially keen on investing in Grade A commercial properties, Xu told the Hong Kong Economic Journal in an interview.
The state-backed company under HNA Group is currently in a net cash position, Xu said. It was listed in Hong Kong via a backdoor listing in 2013.
Xu said the city’s commercial property market is unlikely to see any downward pressure anytime soon given the low vacancy rate and stable returns.
However, the company is more cautious toward the residential property market, which appears to have entered a downward cycle, he said.
HNA International is also looking for opportunities in Europe and the United States, he added.
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