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STAMFORD, CT-GE Real Estate will invest $20 million in a fundthat will target residential real estate properties in economicallydeveloped regions in China. The deal is the first investment by thecompany in China.
GE Real Estate will invest the funds in the newly formed CiticCapital Vanke China Property Development Fund. The fund, along withChina Vanke Co. Ltd., a publicly-traded real estate developmentfirm in China, plan to invest up to $150 million in residentialreal estate assets in what GE Real Estate officials term"economically developed regions in China." Among the targeted areasidentified by GE Real Estate are the Pearl River Delta, the YangtzeRiver Delta and the Pan Bohai regions as well as other inlandcities.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
