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China Overseas Land & Investment Ltd and ICBC International to set up real estate investment fund

SHANGHAI: China Overseas Land & Investment Ltd, together with ICBC International Investment Management Ltd, will set up a fund of US$250 million to US$500 million (RM826.2 million to RM1.65 billion) for real estate investments and property development projects in China, Hexun.com reported.

The report added that China Overseas Land & Investment, All Winwin Holdings and ICBC International Investment Management have agreed to invest US$120 million (RM396.6 million), US$120 million and US$10 million (RM33 million), respectively, committing a total US$250 million on the 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 & Investment.
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