Zhong Guo Jing Ji Wang·2025-10-09 03:08Core Insights - 华夏中海商业REIT is set to launch from October 13 to October 14, 2025, with a price of 5.281 yuan per share and a total fundraising target of 1.5843 billion yuan [1] - The underlying asset, Foshan Yingyue Lake Huanyu City, is a mature operational property located in a key area of the Guangdong-Hong Kong-Macao Greater Bay Area, enhancing its market appeal [1][2] - The initial offline subscription demand was exceptionally high, with 149 investors submitting inquiries for a total of 23.6074 billion shares, indicating a 374.72 times oversubscription compared to the initial offline offering [1] Company Overview - The fund's initiator, China Overseas, has 46 years of experience in real estate development and property management, providing a strong foundation for the REIT's operations [2] - The management team, including CITIC Securities and Huaxia Fund, brings extensive experience in consumer REITs, ensuring stable operations and growth for the fund [2] Market Context - In the first half of 2025, consumer REITs outperformed public REITs and other mainstream asset classes, highlighting their growing importance in the market [3] - Consumer REITs are recognized for their large asset scale and high marketization, effectively linking consumption growth with capital returns, making them attractive to investors [3] - The successful issuance of 华夏中海商业REIT not only provides a new investment opportunity but also serves as a leading example of commercial asset securitization in the public REITs market [3]