www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

SAFE to buy Paris shopping center: Report

Updated: 2013-10-15 07:37

By Li Xiang in Paris and Yang Ziman in Beijing (China Daily)

Comments Print Mail Large Medium Small

China's State Administration of Foreign Exchange is seeking to acquire a large shopping center in Paris with the aim of diversifying its investment portfolio into the European high-end commercial real estate market, according to a French media report.

SAFE, which manages the country's $3.4 trillion in foreign-exchange reserves, is among the potential bidders to buy the Beaugrenelle shopping mall situated in a prime location of the capital, the French newspaper Le Figaro reported.

The report didn't specify whether SAFE had designated any fund or investment company to make the bid. SAFE established a fully owned company, SAFE Investment Co Ltd, in Hong Kong in 1997. That entity has served as an investment arm of SAFE, helping manage its foreign-exchange reserves through overseas investment.

The approximate value of the potential acquisition is at least 700 million euros ($947 million), which will make it one of the most expensive retail spaces in France if the deal proceeds, according to the report.

The owners of the shopping center, Gecina SA, a French real estate investment trust that holds an 85 percent stake, and the APSYS Group, a commercial property operator, declined to comment when contacted by China Daily.

No comment was available from SAFE either.

Industry experts said the acquisition is a logical move for SAFE, as it is expected to offer safe and stable investment returns in the long term, given the shopping center's ideal location, just stone's throw away from the Eiffel Tower on the left bank of the River Seine.

Zheng Chaoyu, a currency expert at Renmin University, said that SAFE is diversifying its investment portfolio to lower risks. It sees great potential in physical assets in Europe, which may be safer or yield higher returns than US government securities.

"China is now growing more cautious about Western financial products. It is making investments on its own to guarantee the value of foreign reserves," said Zheng. "After all, it is safer to put the eggs in more than just a few baskets."

The other four potential bidders are French real estate company Altarea SCA, British property investment company Hammerson Plc, US-based real estate fund Rockspring Property Investment Managers LLP and German fund Union Investment, according to the report.

One person with knowledge of the deal was quoted by Le Figaro as saying that SAFE has a good chance to win the bid, as the other candidates will find it difficult to convince their shareholders to pay more than 700 million euros with a yield of less than 4.5 percent, while a sovereign fund can be satisfied with the rate.

The Beaugrenelle shopping center represents an investment of more than 450 million euros. It's scheduled to open on Oct 23 with 120 shops, one department store, a 2,000-seat cinema and a dozen restaurants with a view of the River Seine, according to the press kit of the shopping center.

Contact the writers at lixiang@chinadaily.com.cn and yangziman@chinadaily.com.cn

8.03K
...
主站蜘蛛池模板: 色一级片 | 亚洲精品永久一区 | 高清国产在线观看 | 一级二级三级毛片 | 九九视频在线 | 美女国产福利视频 | 禁止18周岁进入免费网站观看 | 久久99久久99精品 | 日产一区2区三区有限公司 日产一区两区三区 | 黄色成人在线观看 | 亚洲国产欧美在线不卡中文 | 成人三级精品视频在线观看 | 午夜限制r级噜噜片一区二区 | 一区二区三区四区免费视频 | 三级网址免费 | 日本一级特黄a大片 | 精品视频免费在线 | 亚洲激情黄色 | 久久手机精品视频 | 国产亚洲高清在线精品99 | 国产成人精品久久亚洲高清不卡 | aaa级毛片| 欧美xxxx性xxxxx高清视频 | 亚洲精品精品一区 | 久久成人午夜 | 一区二区三区四区在线播放 | 午夜日本一区二区三区 | 久一在线 | 久久综合精品国产一区二区三区 | 性理论片 | 日本一级毛片视频无遮挡免费 | 精品丝袜国产自在线拍亚洲 | 国产一区二区精品久久91 | 亚洲免费成人 | 97久久国语露脸精品对白 | 欧美亚洲午夜 | 国产成人综合久久精品亚洲 | 国产精品高清在线 | 在线观看国产精品入口 | 黄色影院在线观看视频 | 澳门毛片在线播放 |