Canada Pension Plan Investment Board Forms New Venture With China Vanke For Residential Development In China

Canada Pension Plan Investment Board Forms New Venture With China Vanke For 
Residential Development In China 
TORONTO, CANADA -- (Marketwired) -- 03/25/14 -- Canada Pension Plan
Investment Board (CPPIB) announced today that it has formed a new
venture with China Vanke Co., Ltd. (Vanke), the largest residential
developer in China. Through this venture, CPPIB will over time invest
US$250 million in the Chinese residential market.  
The venture will focus on new residential development projects in
large cities across China, where there are rising incomes and strong
economic fundamentals. It is expected that these factors will provide
significant demand for middle income housing. Vanke will be
responsible for sourcing projects for the venture.  
To seed the venture, CPPIB and Vanke are investing in a project
located in Qingdao, Shandong Province in China.  
Graeme Eadie, Senior Vice-President, Real Estate Investments for
CPPIB, said, "We see this as an excellent opportunity to expand our
presence in the country and invest in the residential sector
alongside Vanke, an experienced and market-leading developer with a
proven track record of delivering high-quality homes to China's
ever-growing middle class. Asia continues to be an important real
estate market for CPPIB and one where we already have significant
investments in the commercial property and logistics sectors." 
Founded in 1984, Vanke is the largest residential developer in China
with revenues of over US$22 billion in 2013 and has developments in
65 large- and medium-sized cities across the country and four
overseas cities. To date, Vanke has developed over 500,000
residential units and provides property management services to over
400 residential communities.  
At December 31, 2013, CPPIB's investments in Asia totalled C$23.4
billion representing 11.6% of the total portfolio, including C$4.2
billion of real estate investments.  
About Canada Pension Plan Investment Board  
Canada Pension Plan Investment Board (CPPIB) is a professional
investment management organization that invests the funds not needed
by the Canada Pension Plan (CPP) to pay current benefits on behalf of
18 million Canadian contributors and beneficiaries. In order to build
a diversified portfolio of CPP assets, CPPIB invests in public
equities, pr
ivate equities, real estate, infrastructure and fixed
income instruments. Headquartered in Toronto, with offices in London,
Hong Kong, New York City and Sao Paulo, CPPIB is governed and managed
independently of the Canada Pension Plan and at arm's length from
governments. At December 31, 2013, the CPP Fund totalled C$201.5
billion. For more information about CPPIB, please visit
CPP Investment Board
Linda Sims
Director, Media Relations
+1 416 868-8695
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