China Zhong Jin Yin Di City Development is investing CNY10 billion in the Moscow property market, which it believes has huge potential and can deliver a high return on investment. The company signed a strategic cooperation framework agreement with Sistema JSFC, the largest conglomerate in Russia, earlier in the year. Both the companies will jointly bid for a 109-hectare land plot in central Moscow, with total investment expected to reach CNY2.5 billion. Liu Zhifeng, Chairman of the Beijing Real Estate Association, an industry body, said overseas property investment by Chinese firms may exceed USD25 billion this year.