August 8 - ChinaDaily.com - Singapore-based Ascendas Pte Ltd, Asia's leading business property developer, yesterday launched two China-focused private equity funds totaling $924 million to invest in the country's booming industrial and commercial property market.
The $396 million Ascendas China Industrial & Business Parks Fund will seek to invest in industrial and business park assets in China, while the $528 million Ascendas China Commercial Fund will "target high-quality commercial properties" in the first-tier cities in the country, senior company officials said.
The industrial and business parks fund will mainly invest in light industrial and logistics facilities such as warehouses, distribution centers and suburban business offices, according to Tay Eng Kiat, CEO of Ascendas China. Read More.
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