Netherlands-based investor forms JV for Hong Kong residential projects

Wang On Properties, with its parent firm Wang On Group, has formed a 50-50 joint venture with a fund managed by the Netherlands’ APG Asset Management.

The total maximum commitment of each joint-venture partner in the joint-venture company is HK$2.3 billion ($300 million), totaling HK$4.7 billion ($600 million) for both joint-venture partners.

The venture will invest HK$3 billion ($385 million) to acquire four seed projects which are owned by Wang On Properties and its parent company.

The intention of the joint-venture partners is for the joint-venture company to focus on investing in developing residential properties in urban locations in Hong Kong.

To read the full announcement, click here.