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- June 1, 2011: Vol. 3, Number 6

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HSBC Creates Second JV with Tesco, Metro Holdings

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HSBC Specialist Investments, through its interest in HSBC NF China Real Estate Fund, created a second joint venture with subsidiaries of Tesco PLC and the Singapore-listed Metro Holdings Ltd. in a portfolio of three shopping malls in China totaling 2.47 million square feet of gross floor area in the cities of Fuzhou and Xiamenfor approximately US$280 million. The first joint venture for two mixed-use developments and one mall development in northeast China closed in December 2009. All three malls of the first joint venture investment successfully opened in 2010.

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