Chinese investment firm Fosun Group and Prudential Financial, Inc. (PFI) from the US, today announced plans for a real estate joint venture to invest in mixed-use development projects in China, and in select overseas locations.

The two companies refrained from stating dollar amounts or location specifics for the projects, however, Fosun has recently focused within China on tourism developments such as its plans for a 7-star resort hotel in Shanghai. Overseas, the investment conglomerate purchased 1 Chase Manhattan Plaza from JP Morgan Chase for US$725 million last October.