E-House China, a real estate services company, has launched a private equity real estate fund, a spokeswoman from the company told PERE.
The $73 million fund will invest in residential and commercial sectors across China.
Investment in Chinese real estate rose 78 percent, to $25 billion in property transactions, in the first half of this year, compared to the same period last year, according to a report by property services firm DTZ.
However, the number of deals closed by foreign firms declined by more than 75 percent in the first six months of 2008, compared to the same period in 2007.
DTZ said cash-strapped property firms were the main drivers of increased investments after land prices, as well as prices for strata-title and en-bloc buildings, had fallen.
Established in 2000 and headquartered in Shanghai, E-House China is listed on the New York stock exchange. It provides real estate agency services, real estate brokerage services as well as real estate consulting and information services.