CPPIB Embarks on Direct Mixed-Use Development in China
Canada Pension Plan Investment Board (CPPIB) and Beijing-based Longfor Properties Company Ltd., a Chinese real estate developer, have formed a joint venture for a mixed-use development project in Suzhou, Jiangsu Province, China. The joint venture was formed on December 23, 2014. The CPPIB committed RMB 1250 (C$ 234 million) to jointly develop the Times Paradise Walk project in Suzhou. The development will be in the central business district of the Suzhou Gaoxin District.
Suzhou is the fifth most affluent city in China, boasting a population of over 10 million people. The city is known as the Venice of the East.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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