Lippo Group is an Asian property and banks investment firm established by Indonesian tycoon Mochtar Riady. The company said it had been seeking real estate acquisitions in the US after it was encouraged by signs of recovery in the world's largest economy.
The 84 year old Indonesian tycoon said in a Bloomberg TV interview, "We can consider anything as long as it's in property. We see the U.S. economy improving, so that's where our focus will be."
Lippo Group would join the likes of Dalian Wanda owned by Wang Jianlin in its hunt for US property assets. According to a data compiled by Bloomberg, the property deals in the US had reached USD49 billion this year. It was higher than USD27 billion in the same period last year.
Meanwhile, Asian markets were greatly affected by the announced stimulus reduction of the US Federal Reserve. The Federal Reserve would meet this week to discuss its expected decrease of monthly bond purchases to USD75 billion from the current USD85 billion pace.
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