China New Town and partners setting up 10 billion yuan fund

Singapore

CHINA New Town Development Company - through wholly owned subsidiary CDB New Town (Beijing) Asset Management Co Ltd - is partnering Bank of Communications Schroder Fund Management and China Development Bank Capital Corp (CDBC) to set up a 10 billion yuan fund (S$2.2 billion) for investment in quality urbanisation projects.

The CDB (Beijing)-BOCOMM New-Type Urbanization Development Fund will largely focus on old town reformation, shanty town reformation, primary land development as well as integrated land and property development.