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Taikang Insurance expanding into Shanghai real estate

SHANGHAI: Taikang Life Insurance is looking to expand its real estate portfolio in Shanghai, reported online news portal Hexun.com on Aug 4.

The news portal, quoting sources close to the matter, said that the Shanghai state government plans to develop a senior endowment community on the 2,000-acre land in Chongming island, with a substantial investment from Taikang amounting to a few billion yuan.

The portal also learned that Taikang Life Insurance is ready to invest in commercial buildings in Shanghai Shiliupu pier and is also keen to work on Shanghai's economic housing projects.

The insurance company is also setting up a property management division in Shanghai.

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