GIC, CIFI set up $1b joint venture to invest in China's residential property market

GIC, CIFI set up $1b joint venture to invest in China's residential property market

Shanghai, China. Source: Robynne Hu/Unsplash

Chinese property development and investment firm CIFI Holdings has entered into an agreement with Singapore’s sovereign wealth fund GIC to launch a 7-billion-yuan ($1.025 billion) investment platform for residential projects in eastern China’s Yangtze River Delta.

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