UBS is aiming to broaden its Chinese property investment division with a move into commercial real estate, according to Bloomberg, citing comments from the head of global real estate for Asia-Pacific at UBS Global Asset Management Trevor Cooke. Reports say that several cities throughout China are anticipated to experience upped rental demand for commercial property on the back of new regulatory changes. UBS already invests directly in Chinese residential property through a joint venture formed in 2008 with Shenzhen-based developer Gemdale Corp. The bank is planning a second residential fund, with an initial close of about $100 million and a total of at least $350 million, Cooke said. UBS plans to offer clients the option of investing in Chinese property using either U.S. dollars or yuan.