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GIC teams up to launch rental apartment platform in China

Platform will invest in quality projects in Tier 1 cities; GIC will also take a minority stake in partner Nova

Published Mon, May 14, 2018 · 09:50 PM

Singapore

GIC, Singapore's sovereign wealth fund, is partnering Nova, a Shanghai-based property investment and asset management platform, to set up a 4.3 billion yuan (S$904.9 million) rental apartment platform in China.

Both partners said in a joint statement on Monday that the platform will invest in "quality rental apartment projects" in core locations across China's Tier 1 cities.

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