CapitaLand in China property fund venture

Posted on | June 24, 2008

By BUSINESS TIMES

CAPITALAND Ltd, Southeast Asia’s biggest developer by sales, and China’s biggest state-owned investment firm Citic Group, formed a 500 million yuan (US$73 million) fund to invest in the country’s business parks.

CapitaLand will hold a 50 per cent stake in the real estate private equity fund, while Chinese investors will own the rest of the developer’s first yuan-based fund, the companies said in a statement to the Singapore exchange.

The Citic CapitaLand Business Park Fund is Singapore-based CapitaLand’s seventh private-equity fund in China.

You might also like

CapitaLand eyes bigger China, Vietnam presence By THE STARSINGAPORE: South-East Asia’s biggest property developer, CapitaLand, said it will seek more...

CapitaLand arranges credit lines of US$3.7b By REUTERSSINGAPORE: CapitaLand, South-East Asia’s biggest developer, said yesterday it has arranged...

China property boom ‘not bubble’ By BLOOMBERGSINGAPORE: CapitaLand Ltd, which has Chinese properties valued at more than US$14 billion...

CapitaLand to raise US$1.8b from listing of malls unit By REUTERSSINGAPORE: Singapore's CapitaLand will raise US$1.8 billion (US$1 = RM3.37) from listing its...