Property investment firm 'a key part of Chinese economy'

Mon, 02 Jun 2008

Chinese property development could be the flavour of the month, with an investment firm taking a significant interest in one company operating in the field.

Scarborough Holdings has adjusted its far eastern investments after becoming involved with Top Spring International Holdings, which is described as "a key player in China's growing tiger economy ".

Kevin McCabe, founder of the Scarborough Group and now a board member at the Chinese firm, will now seek to obtain further investment by floating Top Spring on the stock market .

He said: "The emerging Top Spring International Holdings has a portfolio of completed and ongoing projects in Hangzhou, Changzhou, Baoshan, Chengdu, Guangzhou together with a series of transactions in Shenzhen."

The floatation is expected to raise more than £3 billion, he added.

Last week, Nigel Bliss, senior portfolio manager of the Lincoln Far East Trust at Mondrian Investment Partners, claimed that recent developments in Taiwan and Thailand mean they present attractive investment opportunities .
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