TORONTO, March 25 The Canada Pension Plan
Investment Board said on Tuesday that it would invest $250
million in the Chinese real estate market through a new venture
with China Vanke Co Ltd, the nation's largest
The pension fund manager said the venture would focus on new
residential development projects in large cities across China,
starting in the city of Qingdao in the Shandong Province.
CPPIB said it intended to capitalize on China's rising
incomes and strong economic fundamentals, factors that will
provide significant demand for middle-income housing.
Vanke's revenue exceeded $22 billion in 2013. The company
has developments in 65 large and medium-sized cities across the
country and four overseas cities.
(Reporting by Euan Rocha; Editing by Lisa Von Ahn)