HONG KONG (Reuters) - Property investors are pencilling "second-half, 2009" in their diaries as the likely time to start pouring money into China again as they search for bargains in its ailing real estate market.
But they are wary of slowing economic growth, overbuilding in some areas, difficult partnerships with developers and red tape.
Private equity fund manager Gaw Capital Partners is looking to raise up to $1.5 billion (990 million pounds) for Chinese property, while ING Real Estate is marketing a $750 million fund it wants to launch in the first quarter of next year.
"I think it's a good time to start looking," said Goodwin Gaw, co-founder of Gaw Capital, which manages $4.7 billion of assets in 14 Chinese projects. "2009 and early 2010 could be a sweet spot."
