Vanke establishes $224m housing rental fund in Xiamen

China Vanke (SZSE:000002) announced the establishment of the Wanxin Jinshi (Xiamen) Housing Rental Equity Investment Partnership (Limited Partnership) with a total subscribed capital of RMB 1.6 billion. Vanke subsidiaries Hainan Wanju Yingtong Enterprise Management Co., Ltd., and Shenzhen Vanke Development Co., Ltd., are investing RMB 0.1 billion and RMB 1.5 billion respectively, representing a combined 10% stake in the fund. The fund will primarily acquire 100% equity in Xiamen Jiade Hongshi Real Estate Co., Ltd., which holds the Bopu Yuanyier-Haiwan Community asset. China Cinda Capital will act as the fund manager. The initiative aims to create a strategic asset securitization platform.