首单外资消费REITs正式获批

Core Viewpoint - The public REITs market in China has achieved a significant milestone with the approval of the first foreign-funded consumer REIT, Huaxia CapitaLand Commercial REIT [1] Group 1: REIT Approval and Structure - Huaxia CapitaLand Commercial REIT was officially approved on August 27, allowing for a total fundraising of 400 million shares [1] - The primary original rights holder and operational management institution is CapitaLand Investment, with Huaxia Fund as the manager [1] Group 2: Asset Details - The REIT includes two initial assets: CapitaLand Plaza Yunshang in Guangzhou and CapitaLand Plaza Yuhua Pavilion in Changsha, with a total construction area of 168,405 square meters [1] - As of March 31, 2025, the overall occupancy rate is approximately 96% [1] Group 3: Strategic Investors and Management - Strategic investors CapitaLand Investment, CapitaLand China Trust, and CapitaLand Development will collectively hold at least 20% of Huaxia CapitaLand Commercial REIT [1] - CapitaLand Investment will continue to manage the operations of the two properties post-listing [1] Group 4: Asset Management and Future Growth - CapitaLand Investment manages over 40 high-quality retail properties across 18 cities in China, with an asset scale exceeding 80 billion [1] - The diverse asset categories include shopping centers, office buildings, hospitality, and logistics parks, providing a rich asset reserve for future expansion of Huaxia CapitaLand Commercial REIT [1] - As an investment management branch of CapitaLand Group, CapitaLand Investment can leverage the group's development capabilities and asset reserves for broader future growth opportunities [1]