London-listed property consultancy DTZ Holdings is expanding into mainland China’s property market with a $400 million Middle East capital f...

London-listed property consultancy DTZ Holdings is expanding into mainland China’s property market with a $400 million Middle East capital fund earmarked for new Chinese acquisitions. The fund, which follows a complex share swap in December with veteran Asian property investor Leung Chun-ying, will see Leung’s regional vehicle DTZ Asia-Pacific buy non-residential mainland property as a long term investment. Under its former name CY Leung and Co, DTZ has built up real estate consultancy offices in more than ten Chinese cities, including Shanghai and Beijing, over the last 14 years. Mr Leung has now emerged with 4.61 per cent of DTZ’s London parent after a HK$330 million cash and share deal with him and his Asian partners. DTZ now has ambitions to become one of the world’s three largest property advisors, after CB Richard Ellis and Jones Lang LaSalle.