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November 29, 2014

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JV to develop knowledge communities

By Cherry Cao | November 29, 2014, Saturday | Print Edition

SHUI On Land Ltd and a Middle East-based institutional investor agreed to form a joint venture for the development of mixed-use knowledge community projects across the Chinese mainland.

Knowledge communities refer to mid-sized, mixed-use projects located in areas characterized by a high concentration of universities, high-tech parks or research and development parks, according to Shui On, the flagship property development arm of Hong Kong’s Shui On Group in the Chinese mainland.

“This platform will enable us to better capture investment opportunities in knowledge community projects in China,” said Vincent Lo, chairman of Shui On Land, yesterday.

“Establishing this strategic partnership with the Middle East-based institutional investor will also broaden our exposure to global institutional investors with diversified sources of capital and investment horizon.”

The partners agreed to form a US$600 million Shui On KC Investment Partnership to develop, own and operate mixed-use knowledge community projects across the country.

Shui On Land and the Middle East investor will provide funds once a specific project has been identified and a vehicle for it set up, Shui On said.

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