Singapore-based Capitaland Limited (Capitaland) and China's largest trust company China CITIC Trust announced on June 23 that they jointly established the first RMB real estate private equity fund across China, with RMB500M size. This fund, to be managed by Capitaland Limited and CITIC Trust, will invest in China business parks.

Capitaland Limited is a real estate company with largest market value in the Southeast Asia. Its business covers over 110 cities in over 20 countries. Its listed subsidiaries and affiliated enterprises include Australand, Capitamall Trust, CapitaCommercial Trust, Ascott Residence Trust, and CapitalRetial China Trust.

Sources say Capitaland will hold a 50% stake, and the rest stake has been subscribed by domestic institutional and individual investors.

With this fund, Chinese mainland investors have the opportunity to invest real estate projects. In addition, this fund will invest in IBM China Base, a business park Capitaland established.