Macquarie forms new vehicle for Chinese property investment
(Australia) - Macquarie Bank is to launch a $A100 million Hong Kong based investment company to finance the next stage of its residential property development in China.
Macquarie Bank itself will put $10 million in the company through its 50 percent interest in the First China Property Group, which has created the successful Waratah Gardens middle market apartment development in Shanghai.
Macquarie director of property investment banking Steve Papadopoulos said at the weekend that the private company would be based in Hong Kong rather than Australia to attract regional investors in the China property market.
Macquarie director of property investment banking Steve Papadopoulos said at the weekend that the private company would be based in Hong Kong rather than Australia to attract regional investors in the China property market.
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