The Hong Kong-based CITIC Capital Holdings Limited announced this week that the CITIC Capital China Retail Properties Investment Fund completed its first phase of funding earlier this month, closing at $225 million.Soros' fund is also rumored to be planning adding Chinese real estate to its portfolio.
The fund, which attracted institutional investors from the United States, Europe and Asia, aims to raise a total capital commitment of $600 million and is focused on retail property and mixed-use development with a substantial retail portion in China's second- and third-tier cities, according to the company's statement.
The kicker is this:
"From the beginning of 2012, there should be good investment opportunities," he said.They are getting in a position to vulch.
He expects the market correction to last one and a half years. But "if the market correction takes longer, say three years, we'll focus on China's second- and third-tier cities in the first one and a half years and then center on first-tier cities in the second one and a half," he said.