China’s Greenland Holding and Macrolink Make $2 Billion Property Deals Overseas
China’s Greenland Holding and Macrolink Make Billion-Dollar Property Deals Overseas
In a bold move to navigate the volatile Chinese real estate market, China’s Greenland Holding and Macrolink announced property deals worth over $2 billion in countries from Britain to South Korea. The Chinese government’s recent efforts to curb rising housing prices have pushed these firms to explore opportunities abroad.
Greenland Holding Group, a state-owned company, revealed plans to invest a staggering 1.2 billion pounds ($1.97 billion) in two projects in London, marking its first venture into the British real estate market. The company acquired the historic Ram Brewery site in south-west London from Minerva, where it will develop a mixed-use property worth an estimated 600 million pounds upon completion. Additionally, Greenland will pour 600 million pounds into constructing apartments in London’s Canary Wharf financial district.
Meanwhile, Macrolink Real Estate, based in Beijing, disclosed its intentions to invest nearly 900 million yuan in property ventures in South Korea and Malaysia. The company’s Hong Kong unit is embarking on a joint venture with a South Korean partner, with an initial investment of 200 million yuan for a land acquisition on Jeju island. In Malaysia’s Iskandar economic zone, Macrolink plans to purchase another piece of land for 300 million yuan and establish a real estate firm with a 50 million yuan investment.
The move to expand overseas operations is part of a broader strategy for these Chinese developers, including industry giants China Vanke, Guangzhou R&F Properties, and Country Garden Holdings. These companies have been diversifying their portfolios by investing in real estate projects globally, from Los Angeles and London to Sydney and Pattaya.
With escalating domestic market challenges, Chinese firms like Greenland Holding and Macrolink are seizing opportunities abroad to bolster their growth prospects and mitigate risks. Their multi-billion dollar property deals signal a new chapter in China’s real estate sector as companies navigate evolving market dynamics on a global scale.
