This purchase is part of a growing trend over the past few years of Asian REITs and overseas funds, particularly from Singapore and the US, looking at Hong Kong for suitable properties. A report by Colliers International says that foreign investors accounted for 10%t of HK$60 billion ($7.7 billion) in local commercial and industrial property investment last year. It adds that foreign funds will continue to look for industrial and office investment properties in Hong Kong this year, with total sales likely to jump 25% compared to last year.
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