Indonesian property group Lippo plans to invest about $500 mln (EUR 377 mln) in US and European cities to profit from falling property prices in these more mature markets. The Financial Times reported on Thursday that the company will be focusing on cities such as London, Chicago, and San Francisco. Stephen Riady, Lippo's president, told the paper that the size of the investment could be raised further through leverage and partnerships with other Asian investors. The move would represent the first investment by Lippo outside of Asia.
Indonesian property group Lippo plans to invest about $500 mln (EUR 377 mln) in US and European cities to profit from falling property prices in these more mature markets. The Financial Times reported on Thursday that the company will be focusing on cities such as London, Chicago, and San Francisco. Stephen Riady, Lippo's president, told the paper that the size of the investment could be raised further through leverage and partnerships with other Asian investors. The move would represent the first investment by Lippo outside of Asia.
