{"id":7187,"date":"2008-02-25T00:00:00","date_gmt":"2008-02-25T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"ubs-to-pour-1-billion-into-chinese-property","status":"publish","type":"post","link":"https:\/\/www.hedgeco.net\/news\/02\/2008\/ubs-to-pour-1-billion-into-chinese-property.html","title":{"rendered":"UBS to pour $1 billion into Chinese property"},"content":{"rendered":"<p>HONG KONG (Reuters) &#8211; UBS plans to launch a fund that will pour about $1 billion (500 million pounds) into Chinese property, a further sign of enthusiasm for Asia at a time when investors are nervous about ailing European and U.S. real estate markets. <\/p>\n<p>Braving a sector that Beijing is desperate to slow, the Swiss bank signed a deal to build housing with Shanghai-listed developer Gemdale Corporation last month.<\/p>\n<p>It is now looking to raise about $300 million in equity to finance the venture, which will include the bank&#8217;s own money as well as investment from its clients, and will be supplemented by debt to help lift returns.<\/p>\n<p>&quot;The focus is on residential, and we&#8217;re hoping to launch a vehicle, and we&#8217;re working on details,&quot; said Lijian Chen, head of China real estate for UBS Global Asset Management.<\/p>\n<p>&quot;We&#8217;re targeting $300 million in capital overseas, with leverage, to give us roughly a billion dollars of buying power,&quot; he said in a telephone interview from New York.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" height=\"1\" src=\"http:\/\/feeds.feedburner.com\/~r\/reuters\/UKFundsNews\/~4\/240795722\" width=\"1\" border=\"0\" \/><br \/><a href=\"http:\/\/feeds.feedburner.com\/~r\/reuters\/UKFundsNews\/~3\/240795722\/idUKNOA53516820080225\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>HONG KONG (Reuters) &#8211; UBS plans to launch a fund that will pour about $1 billion (500 million pounds) into Chinese property, a further sign of enthusiasm for Asia at a time when investors are nervous about ailing European and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-7187","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/7187","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=7187"}],"version-history":[{"count":0,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/7187\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=7187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=7187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=7187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}