Insite Asset Management Group, a commercial property manager whose partners include US private equity group Blackstone Group, said it would speed up expansion to tap the mainland's fast-growing consumer market.
The Shanghai-based firm has three shopping centres under management and is close to securing a new project in Shanghai soon, according to chief executive Dickson Sezto.
'Insite has entered a working relationship with Blackstone and Yueda Real Estate as retail operation partners, enabling the company to synergise resources effectively in order to form a professional management company in the commercial real estate industry,' he said. 'We are keen to stay on the projects and continue in our role as asset manager.'
Mr Sezto founded Insite last year after he served as president of Chia Tai Commercial Real Estate.
Insite currently manages properties for Blackstone-owned Channel 1 shopping centre, Yueda-invested YD 889 plaza and Fanghui plaza. All three projects are based in Shanghai, the nation's commercial capital.
It aims to capitalise on the mainland's retail sales boom to expand in the first- and second-tier cities.
