According to a government spokesman, before the end of the year 2010, Nanjing will spend another 30 billion yuan ($4.4 billion) in the 3 million sq m of residential areas which need innovation.
The spokesman for the Nanjing real estate administrative bureau, Huang Chang’an, said that the low-rent housing system will get an additional 1.08 billion yuan and that 6 million sq m of affordable apartments will be built before Read more…
Popularity: 2% [?]
area, innovation, nanjing, real estate, residential
UBS, the Swiss bank will launch a new fund to invest USD 1 billion into the Chinese property market with Gemdale Corp, a Shanghai-listed developer.
According to Chen Lijian—the Head of China Real Estate for UBS Global Asset Management, UBS will focus on residential and also hopes to launch a vehicle. The bank will raise USD 300 million in equity, which will give it USD 1 billion of buying power.
Following Morgan Stanley, Deutsche Bank and ING Real Estate that raised several hundreds of millions of dollars for investment in Chinese housing last year, UBS wants to write off more than USD 18 billion on American real estate market due to the ongoing sub-prime crisis.
Popularity: 2% [?]
China Real Estate, investment, Morgan Stanley, residential, UBS
According to a government spokesman, before the end of the year 2010, Nanjing will spend another 30 billion yuan ($4.4 billion) in the 3 million sq m of residential areas which need innovation.