Century Bridge Capital invests $5.6 mn in Chinese real estate development
Century Bridge Capital announced today that it has invested $5.6 million 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, noted, “Market dynamics in this Huai’an sub market are attractive at this point in time with strong housing demand and low inventory forecast for the short and medium term. This current imbalance in demand and supply, along with disposable income growth that has outpaced housing price growth, and the resulting increased affordability of housing in Huai’an, are among the key characteristics we look for when assessing risk and upside potential for new investments.
Century Bridge President, Wei Deng, commented, “This is our second joint venture with Zhongliang Real Estate Group, with whom we have an effective and collaborative relationship 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. Their focus on projects in Tier 2 and 3 cities, their history developing real estate in China, and our current working relationship with them in Xuzhou make them an ideal partner for the Huai’an investment.