"They are at final stage of closing the purchase of two hotels, and one farm in Richmond. The guy needs to park his tens of millions somewhere safe."

unicas at RETalks 15 Aug 2010 2:14pm – “Last Friday, I had lunch with a gentleman representing one mainland buyer scouting in Vancouver for investments. They are at final stage of closing the purchase of two hotels and one farm in richmond. Their rationales for buying hotels is, 1) with the approval of ADS, hundreds of thousands of Chinese tourist , if not millions will come to visit, so Chinese-owned and managed hotels will be in big demand 2) local hotels are suffering so they are offered at discount 3) the most important reason, the guy needs to move his tens of millions to somewhere safe to park the money.”