Century Bridge makes USD125m residential investment in Huai’an China
Century Bridge Capital announced has invested in a joint venture real estate development for a middle-income, residential project in Huai’an, a Tier 3 city in northern Jiangsu Province, China. The investment will be made through a joint venture with Zhongliang Real Estate Group.
Commenting on the investment Century Bridge CEO, Tom Delatour, says, “Market dynamics in Huai’an continue to be attractive with strong housing demand and low inventory forecast for the short and medium term. In addition this second Huai’an joint venture development with Zhongliang allows us to leverage our combined sales and development teams’ resources over two projects and further enhance the overall profitability of these two investments.”
Century Bridge President, Wei Deng, says: “A key component of Century Bridge’s strategy is the development of long-term relationships with trusted local partners. We are pleased to be commencing our third joint venture with Zhongliang, with whom we recently announced our initial investment in Huai’an and with whom we have partnered on our Xuzhou development project which we announced in May. Zhongliang has been developing projects in China for 26 years and is ranked as a top 25 real estate developer nationwide by the State Council Research & Development Center and China Index Academy.”