GE enters Chinas with $20 investment.STAMFORD, Conn: GE Real Estate announced its first commercial real estate investment in China. GE will invest US $20 million and be the sole Strategic Investor in the newly formed CITIC CITIC China International Trust and Investment Corporation Capital Vanke China Property Development Fund. The Fund, together with China Vanke Co., Ltd., the largest publicly listed real estate developer in China, plans to invest a total of US $100-150MM in residential real estate assets in specified economically developed regions in China, including the Pearl River Delta The Pearl River Delta Region (PRD) in China occupies the low-lying areas alongside the Pearl River estuary where the Pearl river flows into the South China Sea. Since the "Open Door Policy" was adopted by the Communist Party of China in the late 1970s, the portion of the delta in Region, the Yangtze River Delta The Yangtze River Delta or Yangtze Delta, also called Chang Jiang Delta, or the Golden Triangle of the Yangtze (Simplified Chinese: 长江三角洲; Traditional Chinese: 長江三角洲; Hanyu Pinyin: Region, the Pan Bohai Region and other selected inland cities. The Fund will be managed by CITIC Capital. China Vanke Co., Ltd. will be the exclusive development manager for all Fund investments. A CITIC group entity and China Vanke Co., Ltd. will also make a substantial capital commitment to the Fund. The Fund will be domiciled in the Cayman Islands Cayman Islands (kā`mən), British dependency (2005 est. pop. 44,300), 100 sq mi (259 sq km), comprising three islands in the West Indies. and governed by Cayman Islands law. |
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