{"id":23232,"date":"2008-09-01T19:16:37","date_gmt":"2008-09-02T02:16:37","guid":{"rendered":"http:\/\/chinadigitaltimes.net\/?p=23232"},"modified":"2008-09-01T19:20:27","modified_gmt":"2008-09-02T02:20:27","slug":"foreign-capital-eyes-property-market","status":"publish","type":"post","link":"https:\/\/chinadigitaltimes.net\/2008\/09\/foreign-capital-eyes-property-market\/","title":{"rendered":"Foreign Capital Eyes Property Market"},"content":{"rendered":"
From Caijing Magazine:<\/p>\n
Morgan Stanley is raising a property fund worth 10 billion yuan with aims to expand its share in China\u2019s property market, according to a source closed to the U.S. investment bank.<\/p>\n
On July 4, Crystal I Ltd., a unit of Morgan Stanley, bought 30 percent of a real estate project in Hainan Province from developer Agile Property Holdings Ltd. (HKSE: 03383). The final price tag for the deal was 5.28 billion.<\/p>\n
Agile Property won the bid of the project in 2006 and planed to invest a total of 13 billion yuan in ten years\u2019 construction. However, when capital began running low, Morgan Stanley got the chance to buy in.<\/p>\n
“Developers will only invite a partners into a project when they face a financing bottleneck,” said one analyst. A report from Guotai & Junan Securities showed that Morgan Stanley paid an average of 1,800 yuan per square meter for its stake in Agile\u2019s project, a sum that fall quit a bit short of the market price.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"
From Caijing Magazine: Morgan Stanley is raising a property fund worth 10 billion yuan with aims to expand its share in China\u2019s property market, according to a source closed to the U.S. investment bank. On July 4, Crystal I Ltd., a unit of Morgan Stanley, bought 30 percent of a real estate project in Hainan […]<\/p>\n","protected":false},"author":32,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[116,2],"tags":[2013,2978],"class_list":["post-23232","post","type-post","status-publish","format-standard","hentry","category-world","category-economy","tag-foreign-investments","tag-property-market","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"yoast_head":"\n
Foreign Capital Eyes Property Market<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n