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华夏凯德商业REIT上市： 激活消费资产新动能
Zhong Guo Zheng Quan Bao·2025-09-29 20:53

Core Insights - The successful listing of Huaxia CapitaLand Commercial REIT on the Shanghai Stock Exchange marks a significant milestone as China's first foreign-funded consumer REIT, enhancing market confidence and providing stable income assets for investors [1][2][3] Group 1: Investment Appeal - The total subscription amount for Huaxia CapitaLand Commercial REIT reached 309.17 billion yuan, which is 135.2 times its proposed fundraising scale, indicating strong investor recognition of its investment value [2] - The projected annualized cash distribution rates for 2025 and 2026 are 4.40% and 4.53%, respectively, showcasing the fund's potential for stable returns [2] - The underlying assets, including CapitaLand Yunshang and CapitaLand Yuhua Pavilion, are strategically located in first-tier and strong second-tier cities, providing a balanced mix of growth and stability [2][3] Group 2: Market Impact - The listing signifies a major breakthrough in the internationalization and diversification of China's public REITs market, introducing international standards in commercial operations and REIT management [2][4] - The fund aims to create a replicable and scalable model for high-quality commercial asset securitization, offering a new paradigm for global capital participation in the Chinese consumer market [3][4] Group 3: Institutional Support - CapitaLand, as the largest REIT manager in the Asia-Pacific region, along with its strategic investors, will hold a 20% stake in Huaxia CapitaLand Commercial REIT, ensuring robust operational support [4][5] - The involvement of CapitaLand China Trust, a Singapore-listed REIT, in this investment marks a significant event in the internationalization of China's public REITs market [4][5] Group 4: Experience and Expertise - CapitaLand has over 23 years of experience in REIT management and has played a pivotal role in shaping Singapore's REIT market, which will be leveraged to enhance the development of China's public REITs [5][6] - The management strategies employed by CapitaLand China Trust, including asset upgrades and diversified investments, have led to stable income and asset appreciation, which will inform the operational strategies of Huaxia CapitaLand Commercial REIT [6]