CITIC Capital China Retail Properties Investment Fund focuses on prime retail properties through acquisition and mix-used developments with a substantial retail portion through co-development with reputable local partners. The projects will be mostly located in China’s second-tier and third-tier cities which offer high potential of economic growth that is strongly driven by urbanization. The projects will typically be sizeable developments that will function as a shopping mall, or as a broader lifestyle centre. The target clientele will be the emerging middle-class.
A sophisticated in-house asset management team with strong experience in China’s retail market has been set up at the fund level to lead each project's retail asset management functions with a view to increasing the value of the investments.
The fund aims to raise a total capital commitment of USD600 million with initial closing completed at USD250 million in November 2011.
