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Chinese firm unveils first portion of new South African 'city'

China’s Shanghai Zendai Property on Tuesday launched the first phase of an 87 billion rand ($6.4 billion) new city project in South Africa, saying the slowdown in the world’s second-largest economy would not affect construction. Asked if the project would be affected by cooling Chinese growth, Shanghai Zendai’s local chief executive, Anthony Diepenbroek, said “No, not at all … we also raised local financing. While Chinese companies have been building

Canadian pension fund does not need to take greater risks: CEO

By Allison Lampert MONTREAL (Reuters) – The top real estate executive of Canada’s second-largest pension fund said he won’t have to make riskier investments to achieve his target of a 7 percent to 8 percent average annual return for the next decade. Daniel Fournier, chief executive of Ivanhoe Cambridge, the real estate arm of Caisse de depot et placement du Quebec [CDPDA.UL], said on Monday he won’t have to take