TH Real Estate partners with Gaw for Chinese retail fund
TH Real Estate has partnered with Gaw Capital to launch a Chinese outlet mall fund.
“China is one of the fastest growing and most lucrative retail markets in the world,” said Harry Tan, head of research Asia-Pacific at TH Real Estate, in a statement. “Urbanization and the creation of wealth have seen Chinese consumers’ focus shift from basic needs to improving their quality of life, with an additional emphasis on brand consciousness. Luxury designer outlet malls are in prime position to benefit from these structural trends, yet supply remains at extremely low levels relative to developed markets.”
TH Real Estate aims to grow the seed portfolio to $2 billion over the next five years.
TH Real Estate will be the fund manager for the product. Gaw Capital will act as co-capital sponsor for the product, which will be seeded with two existing assets, Florentia Village, Jingjin and Florentia Village, Shanghai.
The RDM Gr