GE Real Estate earmarks 150 mln usd for China property market in 2007 - report |
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Published
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Wed, 28 Mar 2007 03:58
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BEIJING (XFN-ASIA) - GE Real Estate has earmarked 150 mln usd for investment in the China property market this year, the Wall Street Journal reported.GE Real Estate CEO, Michael Pralle told the newspaper that the firm plans to develop offices, industrial properties and residential properties in China, in conjunction with a local partner.GE Real Estate currently has 71 bln usd worth of real estate assets under management and last year invested 5 bln usd in the Asian property market. It plans to match that investment in Asia again in 2007, the Journal said.(1 usd = 7.73 yuan)joshua.lipes@xinhuafinance.com
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China plans property measures but aims to promote long term investment-officials 