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Gateway Capital has confirmed the joint venture agreement with Shanghai-listed Huafa Industrial Co Ltd to co-develop a part of Huafa New Town, a major residential project of Huafa Industrial in Zhuhai of Guangdong province. Gateway Capital Real Estate Fund II, a private-equity real estate fund with a long-term investment focus on China and Southeast Asia, will take a 50 percent stake in this project, with Huafa taking the rest. Gateway Capital is a real estate investment management company established in 2005.