Vanke, China's largest developer by revenue, will buy the stake from Singapore's Keppel Land Ltd.
Vanke is a household name in China, with operations in 60 cities around the country.
Vanke shares have jumped 58.7% since then, while Poly is up 27.5% and Longfor, 17.7%.
The two exchanged cellphone numbers, and Mr. Speyer later met with Vanke executives in China.
His Tishman Speyer is building its second condo tower in downtown San Francisco with Chinese partner Vanke.
China Vanke was down 3.1%, China Merchants Property Development fell 5.8% and Poly Real Estate shed 4.9%.
Vanke and Keppel Land said they will co-develop property in China and Singapore.
"Outstanding companies need to have a global perspective, " said Vanke Chairman Wang Shi when the Tishman Speyer deal was announced.
The China Vanke deal could be a precursor for others, although the company has indicated it will take a measured approach.
"Big developers like Greenland and China Vanke have wider brand recognition compared to the smaller firms and foreign firms, " said Mr. Zhang.
The Shenzhen-based developer also expects Beijing's tightening measures to continue in the current half of this year, Vanke President Yu Liang told a news conference.
The project is something of a learning experience for China Vanke.
It includes a private-sector bank, China Minsheng (now No. 107), an auto giant, SAIC Motor (now No. 167) and a property developer, China Vanke (now No. 314).
"We are confident that our first joint development project in Tanah Merah will set the pace for future collaborations in Singapore and China, " Vanke President Yu Liang said.
"Although transactions in major cities rose significantly in 2012 from 2011, this is based on the low growth rates in 2010 and 2011, " said Tan Huajie, Vanke's board secretary.
Vanke acquired control of Winsor earlier this year.
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China Vanke, the mainland's largest developer by revenue, reported Jan. 7 that sales more than doubled in December from a year earlier, with sales for the year as a whole up 16.2%.
China Vanke, the country's biggest real estate developer by market value, hit the daily up-limit of 10 percent on the Shenzhen bourse after announcing plans to shift trading of its foreign-currency shares to Hong Kong.
Mr. Speyer said the accord came after two years of talks between the companies, as China Vanke took a cautious and deliberate approach to finding a partner in the U.S., where it has wanted to expand for some time.
"Sluggish sales and tight credit controls have forced small enterprises to reduce new construction since the start of the second half of 2012, " Tan Huajie, Vanke's board secretary, said at a news conference Wednesday, adding that he expects there may be insufficient new housing supply in the coming year.
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