CIC vies for office complex in London (3)

Gingko Tree Investment Ltd, a London-registered Chinese State-owned fund controlled by the State Administration of Foreign Exchange, is also believed to be closing in on a 550 million pound deal to buy a stake in the University Partnerships Program currently owned by Barclays Plc, an industry insider told China Daily.

According to Cushman & Wakefield, Asian investors accounted for 45 percent of property transactions in the City of London this year.

For institutional investors such as CIC and other property developers, centrally located real estate in London, New York and Paris, offering steady cash income, are the top targets, said Zhang.

But there is also strong interest in acquisitions not necessary aimed at high-income generation by companies looking to take advantage of the current economic conditions in those cities, Zhang said.

"A number of real estate funds and property developers have contacted us seeking bargain projects overseas," said Zhang, who added that Chinese buyers have been swayed into overseas buying by the appreciation of the renminbi and rigorous real estate policies at home.

Chinese real estate companies have already made a number of trial investments overseas this year.

Beijing Capital Land Ltd, for instance, signed an agreement to purchase a land parcel in France on which it plans to establish a Sino-French economic zone.