[photopress:real_estate_captial_land_beau_monde.jpg,full,alignright]CapitaLand, a Singapore-based large real estate developer (that is one of its developments shown in our illustration) has invested in China yet again after setting up China commercial real estate private equity fund in 2006. It will put $600 million in the CapitaRetail China Development Fund.
CapitaLand is a veteran company in the operation of industrial funds. Previously, there were two listed real estate funds active in Southeast Asia and one China housing development fund under its charge. The latter was initiated by the company and founded with the support of corporations and individual investors with high capital net worth. It has capital in excess of RMB500 million and is invested in medium- and high-end housing projects.
CapitaLand says they will continue using the second series of CapitaRetail China Development Fund in retail real estate.
Recently, it has signed agreements with China Vanke, China’s largest real estate developer. The company plans to possess a 45% stake in the new CapitaRetail China Development Fund with the rest open for investments from insurers, pension funds and corporations.
Source: Trading Markets