“The other source of capital coming to the Asian market is what I call ‘unlisted wealth’ — high net-worth individuals in Asia who haven’t been really affected by the stock market situation,” Weir said.
He considered it a “once-in-a-lifetime” opportunity for long-term investment into second-tier Chinese cities such as Chongqing and Wuhan as Beijing recently unveiled economic stimulus packages to boost infrastructure, speed up urbanization and encourage domestic consumption.
“If you have the perspective that China’s long-term demographics and urbanization story is very solid, this is a historic opportunity to get sites in those cities,” he said. “Quite a lot of people think that the next six months is the right time to enter into the market.”
RSS