Hexun.com
CITIC Capital Holdings Limited declared on June 17 that it had successfully closed the fundraising for its fourth real estate fund—CITIC Capital China Retail Property Fund, with a total fundraising amount up to US$683M, which exceeded the original fundraising target of US$600M. The fund is CITIC Capital’s first real estate fund specializing in retail property.
Ever since the completion of its first round fundraising at the end of 2011, the fund has successfully invested about US$250M in its three affiliated projects, namely ID Mall in Changsha, Hunan, and two development projects located in Hefei, Anhui, and Shanghai that will begin construction in the third quarter. In the future, the fund plans to further invest in four to five retail property projects, focusing on tier 2 Chinese cities that have an influence on surrounding areas, with huge room for the development of retail property facilities.