CPPIB will invest around RMB4.20bn in the projects. :
Canada Pension Plan Investment Board (CPPIB) and Longfor Properties have extended their partnership to develop mixed-use sites in Chengdu and Shanghai, China. Jimmy Phua, the managing director and head of CPPIB’s real estate investments in Asia, said: “Both cities are well positioned to capitalise on the future economic growth and harness the returns of growing consumption in China.” “These projects deliver on CPPIB’s strategy to grow our investments in the Chinese real estate sector, specifically in the fast-growing retail sector.