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Wednesday, July 30, 2014

China's investors go on global property buying spree in H1, London, U.S. most popular - JLL, (NYSE: JLL)

China's institutional investment in property overseas rose 17 percent in the first six months of this year, with residential investment surging 84 percent, real estate services firm Jones Lang LaSalle (JLL) said on Wednesday. The gains come as Chinese investors pursue opportunities outside their home turf, where the outlook for the real estate sector is overshadowed by issues such as tight financing and high inventories which are weighing on prices.London was the most popular destination for Chinese institutional investors, with a total of $2.3 billion, as efforts by the city to draw Chinese capital into major infrastructure projects spilled into residential and commercial markets, JLL said.San Francisco and Chicago followed with $548 million and $365 million, respectively.Sydney was fourth, followed by Madrid, after China's largest commercial developer Dalian Wanda bought a historic skyscraper in Spain's capital city from the nation's largest bank, Santander, $361 million.

Jones Lang LaSalle Incorporated (Jones Lang LaSalle), is a financial and professional services firm specializing in real estate. Shares of JLL fell by 1.07% or $-1.39/share to $128.05. In the past year, the shares have traded as low as $80.86 and as high as $131.70. On average, 226110 shares of JLL exchange hands on a given day and today's volume is recorded at 215831.