Property investment heats up

GE Real Estate, one of the world’s biggest property investors, is to pump US$20 million into a fund for mainland projects with two Chinese partners, the South China Morning Post reported. The American company announced it would be the sole strategic investor in Citic Capital Vanke Property Development Fund, partnered by China Vanke and Citic Capital, which will put in up to US$150 million. GE Real Estate is one of many overseas companies rushing to invest in what is expected to be one of the most promising property markets over the next five years. The Cayman Islands-based fund will invest between US$100-150 million in residential developments in the Pearl River Delta, the Yangtze River Delta, the Gulf of Bohai and some inland cities.