SINGAPORE-BASED Pacific Star and Gome Property Investments Ltd., the real estate company of Chinese businessman Huang Guangyu, will set up a US$800 million fund to invest in real estate projects in China, according to a press release late Monday.

About half of the fund’s portfolio is expected to be invested in residential properties with the rest in commercial real estate, located mainly in Beijing and other major cities in China. Pacific Star and Gome will each have a 50 percent stake in the fund.