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Real estate fund
Source: Bloomberg News |
April 13, 2012, Friday
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Print Edition
Print Edition
CHINA'S biggest developers are pooling money for a real estate fund to seek investment opportunities as the nation maintains curbs on the property market, according to Noah Holdings Ltd.
Evergrande Real Estate Group Ltd and Guangzhou R&F Properties Co are among developers that "expressed a strong interest" in investing in TOP50, a fund comprising funds being set up by Noah, a New York-listed provider of wealth management services, and E-House China Holdings Ltd, according to an e-mailed statement from Noah yesterday.
Chinese developers will form a cornerstone fund to invest in TOP50, which will also raise cash from private investors before investing in a fund that holds stakes in "top quality" projects by the nation's biggest 50 real estate companies, according to the statement that didn't provide the size of the funds.
Evergrande Real Estate Group Ltd and Guangzhou R&F Properties Co are among developers that "expressed a strong interest" in investing in TOP50, a fund comprising funds being set up by Noah, a New York-listed provider of wealth management services, and E-House China Holdings Ltd, according to an e-mailed statement from Noah yesterday.
Chinese developers will form a cornerstone fund to invest in TOP50, which will also raise cash from private investors before investing in a fund that holds stakes in "top quality" projects by the nation's biggest 50 real estate companies, according to the statement that didn't provide the size of the funds.
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