CRC, Al Rajhi ally to give Islamic investors access to China realty market

Filed on December 1, 2006

DUBAI China Resources (Holdings) Co. Ltd (CRC ) has partnered Al Rajhi Investments to offer Islamic investors an opportunity to access Shariah-compliant investments in the Chinese market. SAIF, Shariah Asia Investment Fund, is the first of such opportunities, and is targeting primarily development and asset repositioning projects in China's real estate market.

The total equity capitalisation target for the fund is $500 million. As sponsor and co-sponsor respectively, CRC and AR have committed to invest $100 million in SAIF. Al Rajhi Investments and DTZ Corporate Finance Limited (DTZ) are marketing the opportunity to Islamic institutions and high net worth individuals.

"Real estate is the first of the markets to be targeted, but with the broad range of industries in which both CRC and AR operate, this partnership forms a solid foundation for future investment opportunities across a wide range of industries," said Charley Lin Song, President of China Resources.

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