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Citic Capital to advance global property expansion

Chinese asset management firm Citic Capital Holdings Ltd. plans to advance its expansion in overseas property markets, particularly in Japan, Britain and the U.S., the South China Morning Post reported.

The move reflects a larger trend among Chinese companies looking to diversify abroad, which will continue to be "a sign of the times," said Stanley Ching, Citic Capital head of real estate, according to the report. The company's plan comes despite China's increasingly stricter regulations on outbound capital.

Ching added in the Dec. 13 report that Citic intends to target real estate investment opportunities in Hong Kong and Southeast Asia.

CITIC Capital Real Estate Group, which serves as Citic Capital's property investment management and advisory arm, has managed seven funds and investment vehicles since 2005, according to its website. It has invested in more than 20 projects with over 4 million square meters of space, amounting to aggregate asset values worth more than US$8 billion in residential, retail and commercial properties.