Axa Real Estate Investment Managers Axa Reim has signed a memorandum of understanding with China's Ping An Trust to co-invest in China.
The investments will target middle- to upper-class residential development projects.
Axa Reim is a strong believer in the need to have local expertise to access local real estate markets, said Axa Reim's chief executive officer, Pierre Vaquier, in a written statement. We are therefore delighted to be able to team up with Ping An Trust who shares the same values, especially in terms of the need and desire for robust risk management and strict corporate governance.
Axa Reim has around 40 billion $60 billion of assets under management globally, making it the...