9/3/2008

Shrugging off concerns about a downturn in property markets, Morgan Stanley plans to invest $1.5 billion in China from the $10 billion that it is raising for its global property fund, a source said. The Morgan Stanley Real Estate Fund VII Global will likely begin investing before the end of 2008. Investments in China will focus on the country's largest cities, where luxury apartments can sell for $20 million or more.

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