Easy credit is becoming less available in China’s real estate market, but CapitaLand Group’s Andrew Lim says fiscally prudent firms could stand to benefit.
“In the current climate where other companies may be more fiscally challenged without access to credit, we’re now in the position to sort of level the playing field,” Lim, CapitaLand’s group chief financial officer, told CNBC’s “Squawk Box Asia” on Tuesday. “We’re certainly seeing those opportunities emerge and are sort of looking at how we can best take advantage of that.”
China is a significant market for CapitaLand and makes up about 40% of the Singapore-headquartered real estate giant’s portfolio, according to its latest business update. The firm claims to be “one of the first foreign real estate players in China,” with a portfolio of more than 200 properties in over 40 Chinese cities.
Chinese authorities have for months attempted to cool the country’s real estate market by cracking down on…