BIZCHINA / Biz Media Digest
Construction: ING, Gemdale in property JV
(Shenzhen Daily)
Updated: 2006-08-24 16:30
Shenzhen-based property developer Gemdale Corp. said yesterday it would
form a strategic partnership with a real estate investment unit of ING
Group to explore business opportunities in the world��s fourth-largest
economy.
ING, the biggest Dutch financial services provider, and Shanghai-listed
Gemdale Corp. will jointly build and manage residential and commercial
real estate projects in China, Gemdale said. ING will set up a property
joint venture with Gemdale in which ING will invest nearly 137 million
yuan (US$17.2 million) for a 51 percent stake.
(For more biz stories, please visit Industry Updates)
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