Blackstone Group LP recently posted an offer to purchase Tysan Holding Ltd of Hong Kong, according to Monday's stock-exchange filing. 

Using its Asia-based property fund the Blackstone Real Estate Partners Asia, the group made an offer to acquire Tysan Holdings for HK2.86 per share. Tysan's shares rose to 7.7% at HKD2.80 Monday after news about the offer was released.

Tysan Holdings, a property and construction firm listed in Hong Kong would be the first investment made by Blackstone under the group's first Pan-Asia property fund. 

Currently, Blackstone is looking into other investments in different cities in China, namely Shanghai, Dalian, Nantong and Wuhan. According to The Wall Street Journal report, Blackstone's acquisition of Tysan's 100% shares would be a chance for the group to further expand its control over China's real estate market.

The Chinese government's relaxed approach on its control of the property sector that began early this year, attracted several institutional investors to push on with their investments in the country.