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Ascendas to work with China's Ping An Trust on joint real estate opportunities in Asia

Published on Mar 10, 2014 11:25 AM

Business park developer Ascendas is working with China's Ping An Trust on exploring real estate opportunities in the region.

Ascendas announced in a statement released on Monday that it has signed a memorandum of understanding (MOU) with Ping An Trust.

Under the MOU, both sides will cooperate in areas such as co-investment opportunities in China and other key Asian markets, and the setting up of yuan-denominated funds.

Ping An could also look into leasing space in Ascendas' properties, the developer said.

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