[photopress:Financial_Street_Beijing.jpg,full,alignright]HSBC NF China real estate fund, managed by a joint venture between the real estate investment arm of HSBC and property developer Nan Fung Group, has recently raised $700 million to invest in the Greater China market.
HSBC and Nan Fung Group shared $200 million of the fund’s seed money equally. To date, it has invested in three projects in China.
A 100,000 square meter project on the Beijing landmark 1 Financial Street. Upon completion in ten months’ time, it will provide a two-block office tower that will reach to 20-story high.
A 220,000 square meter logistics center under construction in Dalian.
A specialist sector property of 120,000 square meters in Guangzhou.
Stephen Yuen, CEO at HSBC NF Investment Advisor, said, ‘Other than first-tier cities, we are also turning our attentions to second-tier cities, like Dalian, Suzhou, Chengdu and Chongqing, where the market is still quite behind. As far as property prices are concerned, there are wider margins to offer to investors.’
Source: Asian Investor