Land News
- ING Real Estate to invest in Chongqing
Date: 20-Mar-2007 Sources: (Shenzhen Daily)
ING Real Estate said yesterday its China Opportunity Fund has agreed to invest US$35 million in a property project in the southwestern Chinese city of Chongqing to tap potential in the country's less-developed inland regions.
ING Real Estate, part of Dutch financial services provider ING Group, will take a 49 percent stake in a residential development venture in the central business district of Chongqing Municipality with China's Longhu Real Estate Development, the company said in a statement.
'Chongqing is one of the fastest growing second-tier cities targeted by our fund with strong end-user demand and disposable income,'said Richard van den Berg, country manager of China at ING Real Estate Investment Management.
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