Posted November 04, 2018 07:31:24 By JEREMY WOODS|Financial Post The world’s biggest real estate developer has a knack for finding people to buy properties he doesn’t want.
As chief executive of Hong Kong-listed Anbang, Peter Huang has built a portfolio of properties across a wide range of sectors, including real estate, hotels and retail.
Mr Huang is one of China’s richest men and has made his fortune from the construction of a hotel chain known as Yantai, which opened in 2013.
“I have made a lot of money from the Yantay chain,” he said.
“If I want to invest, I go to Yantae.”
Yantai has had its ups and downs, with its most recent construction collapse and Mr Huang, who is now an employee of the company, said the company had been “a bit depressed”.
But he said it was still profitable and he was confident it would recover.
In 2014, Yantarai’s chief executive, Zhenya Li, was sacked.
When Mr Huang joined Anbang in 2009, the firm was the second largest in the world, behind the Hong Kong Group, which owns a portfolio including a stake in China’s sovereign wealth fund.
But the world of real estate investment is changing rapidly, and the market is booming, Mr Huang said.
The market has been booming for a long time, but in the last two years, there has been a huge jump in value and a huge fall in the price of properties.
There are a lot more buyers now than there were two years ago.
So the supply has been much higher, so the demand has been higher, and there’s a lot less supply.
“The demand is very, very strong.
We are still very much at a high level of demand.”
There is now a real estate market that is going to last for decades.
A lot of people don’t realise how big a property market is, Mr Yang said.
“The main thing we need to be aware of is how many people are buying properties, and how many of them are going to stay for a very long time.”