China’s Citic Capital Raises $683 Million Fund for Retail Property

WSJ

Chinese asset management firm Citic Capital Holdings Ltd. has raised $683 million for a fund focusing on retail properties in China, underscoring continued investor enthusiasm for the country’s real estate sector. Citic Capital has already invested $250 million of the new fund into three projects, including a shopping mall in Changsha in China’s Hunan province, another in Hefei in Anhui province and a third in Shanghai, according to its press release Monday. Construction on the latter two projects will start in the third quarter.

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