China Overseas Land eyes real estate investment fund

HONG KONG: China Overseas Land & Investment said late on Wednesday (March 17) it planned to team with investors to set up a fund of US$250 million (RM827.6 million) to US$500 million for real estate investments or project development in China.

China Overseas Land, ICBC International Investment Management Ltd (ICBCIIM) and All Winwin Holdings have agreed to invest US$120 million, US$120 million and US$10 million, respectively, committing a total US$250 million on first closing of the fund.

All Winwin is 80% owned by a unit of China Overseas Holdings Ltd, a substantial shareholder of China Overseas Land. -- Reuters
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