LCP Lon.Asia China

RNS Number:6145P
London Asia Chinese Private Equity
17 January 2007


17 January 2007


London Asia Chinese Private Equity Fund Limited
("LACPEF" or "the Fund")


Invests #2.6 million in Chinese Real Estate Business


LACPEF (AIM: LCP.L), the China focused investment fund, announces that it has
invested #2.56m in China Real Estate Services Ltd ("CRES" or the "Company").

Established in 1997, CRES is one of the major real estate consultancy and
leasing companies in Beijing.  It offers residential relocation services as well
as corporate, residential and commercial leasing and property acquisition
services for both buyers and sellers. CRES has over 400 staff, spread across 26
offices in Beijing, a city with a population of 15 million, and four regional
offices in Shijiazhuang, Baoding, Hefei and Tianjin.

As well as providing working capital headroom, the investment from LACPEF will
provide the funds required to enhance the Company's technology infrastructure,
specifically online direct sales, and extend its presence into 20 major cities,
giving CRES a foothold across 8 provinces. The additional funds will also enable
the expansion of the property acquisition services division, a highly profitable
area for the Company.

Mr Xu Yanjing, Chief Executive of CRES, said: "The economic development in China
has resulted in huge demand for both commercial and residential property. The
major cities are growing at an above average rate, causing many workers to move
to where there is employment, which is driving the growth of the inner city
property market.  As the residents of the main cities become wealthier, stepping
onto the property ladder is becoming a priority. This funding will enable CRES
to expand its existing platform  across the major cities in China."

Commenting on the investment Simon Littlewood, Executive Director of the Fund
said: "The property sector in China is maturing rapidly, as more and more people
use their increasing wealth to become property owners.  China's real estate
services industry is fragmented, and CRES is in an excellent position to become
a major chain in China."


                                     -ends-

For further information please visit www.londonasiafunds.com or contact:

John West/Matt Ridsdale        Simon Littlewood          Hugh Field
Tavistock Communications       London Asia Capital       Collins Stewart Limited
Tel: 020 7920 3150             Tel: 020 7355 7928        Tel: 020 7523 8000




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

ACQBFMATMMTBBFR

London Asia Chinese Private Eq.F (LSE:LCP)
Historical Stock Chart
From Jun 2024 to Jul 2024

London Asia Chinese Private Eq.F (LSE:LCP)
Historical Stock Chart
From Jul 2023 to Jul 2024