Dave Keating
The Shariah-compliant fund, which closed in November of last year, will invest in the development of a mixed-use project in China.
Jones Lang LaSalle and Australia’s Colonial First State Property Management’s new 50-50 partnership will be the first to offer retail development and management across Asia.
The US investment bank revealed its plans to reporters at China’s Boao Forum. At the same summit, Credit Agricole’s investment banking arm said it is also planning an Asian property fund at $1bn.
Speaking at a real estate conference in London this week, legendary investor Sam Zell said he is mainly focussing on emerging markets for investment.
The firm’s London-based European fund has acquired the buildings from open-ended proeprty fund WestInvest.
The Denver- based logistics firm has entered into a joint venture with an Indian real estate developer and has appointed Abhijit Malkani to head its operations in the country, which it describes as “the next logical step."
The Scandinavian country’s finance ministry has approved a plan for the state’s oil fund to begin investing in real estate, allocating 5 percent to property investment.
The firm is close to completing its initial round of fundraising for its first fund outside Europe, targeting China’s retail sector.
The two firms have cancelled a planned deal with Mumbai-based real estate developer Akruti City.
Mubadala Development Company has formed a joint venture with the John Buck Company, planning to take a stake in the company as well.