Shui On Land creates $1b China commercial property JV

Hong Kong–listed developer Shui On Land has announced it is partnering with Manulife Investors and China Life Trustees to invest $1 billion in commercial real estate ventures in China, according to a statement Shui On made to the Hong Kong Stock Exchange.

The joint venture shall be established for the purpose of investing in various properties in Shanghai and other Tier 1 cities in the PRC (Beijing, Shenzhen and Guangzhou), including the property, and the management and administration of such properties. Shui On Manager has been designated as the investment manager for the joint venture to coordinate the management and administration of the properties held under the joint venture, and Shui On Manager and its affiliates will enter into management agreements with the relevant joint venture companies and/or project companies in relation to the management and administration of such prop