Printer Friendly

Partners focus on China.

Raycom Real Estate Development Company, the real estate arm of Legend Holdings Ltd, t has entered into a strategic cooperation agreement with Warburg Pincus, the leading global private equity investor.

The two firms have agreed to co-operate on investment and development projects in the real estate sector in China. Such projects may include investing in commercial properties and residential developments.

Initially, Warburg Pincus will invest $31 million in the projects Raycom is currently developing. Additionally the two firms will jointly explore additional investment opportunities across China, spanning both first and second-tier cities.

Philip Mintz, a Warburg Pincus managing director, who leads the firm's real estate investment efforts in Asia said: "Warburg Pincus has a strong interest in the real estate market in China, and foresees strong growth in the segment. We are delighted to have partnered with Raycom, a leader in its field."

The aim of this strategic agreement is to build a model of cooperation between a leading Chinese developer and a top global foreign investor with a team of very experienced real estate investment professionals, a first in the market, and to make full use of each party's strengths.
COPYRIGHT 2005 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:FINANCE
Publication:Real Estate Weekly
Date:Dec 28, 2005
Words:191
Previous Article:NCB ends the year on a $700m high note.
Next Article:CBRE makes it count.
Topics:


Related Articles
Cigna launches life insurance joint venture in China.
How China threatens America: and what can be done.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |