China Evergrande: CIF (Shenzhen) Equity Investment Fund Management to Invest CNY10.85 Billion in 10 Projects

China Evergrande Group (3333.HK) said late Friday that CIF (Shenzhen) Equity Investment Fund Management Co., Ltd. has agreed to invest 10.85 billion yuan (US$1.57 billion) in its 10 development projects.

The Hong Kong-listed developer said those development projects are in Chongqing, Chengdu and Shenzhen. The main purpose of introducing the fund as a cooperative partner for co-development is to provide sufficient capital support for the development of the project, it said.

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(END) Dow Jones Newswires

May 14, 2017 21:21 ET (01:21 GMT)