Citic Capital Holdings has identified three investment targets on the mainland for its newly launched US$400m real estate fund.

'We are investing in two office building projects planned for Changfu Road in Shanghai and one residential development in Dalian,' said Stanley Ching, the managing director and head of Citic Capital's property arm.

Ching said the projects were being negotiated as the third Citic retail property fund was being arranged and the timing was appropriate since tumbling property prices on the mainland had delivered buying opportunities.

South China Morning Post