ING Plans Real Estate Fund in Mainland China
Holland-based global financial giant, ING Group has revealed that its subsidiary, ING Real Estate will be creating a special real estate fund in the second quarter of this year to invest in the rapid urbanization of mainland China.
The fund will manage Chinese property assets with a total combined value of nearly US$300 million. It is the second closed-end fund to be created by ING Real Estate in Mainland China.
The new fund will be promoted to institutional investors in Europe, Asia, and the United States. Despite a volatile market, the firm stresses that real estate in China is an excellent long-term investment due to the fast rate of urbanization and economic development in the world’s most populous country.