F&T looks to mainland property market

Ben Hung, Greater China executive director of F&T Group, a US financial and real estate service developer, told China Business News his company recently signed a cooperative agreement with Joy Leading, a Beijing-based real estate developer, to tap into the Chinese property market. Joy Leading general manager E Lihua said it was currently in talks over 13 domestic projects on behalf of the US company. The newspaper said F&T has been targeting first and second tier cities in China and has acquired two plots in Nanjing for commercial use for US$500 million and a plot in Chongqing for US$30 million.