Construction: Foreign cash flow
(Shanghai Daily)
Updated: 2006-07-14 16:03
Overseas investors continue to pump money into China's real estate market
amid speculation that the government may restrict property purchases by
foreigners.
Standard Chartered Private Equity Ltd said yesterday it has invested HK$370
million (US$47.6 million) in Greentown China Holdings Ltd, a Hangzhou, Zhejiang
Province-based developer. There were no details on the ownership arrangement,
however.
The move comes a month after Standard Chartered announced it would invest
US$50 million in Shimao Property Holdings, a luxury residential and hotel
developer based in Shanghai.
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