Xin Hua Cai Jing·2025-12-31 14:05Core Viewpoint - The issuance of the China Construction Commercial Property Holding Real Estate Asset-backed Special Plan by CITIC Construction Investment marks a significant development in the REITs market, particularly as it is the first inter-institutional REITs product for office buildings from China State Construction Group and the first central enterprise inter-institutional REITs product in the Tianjin region [1] Group 1 - The scale of the issued product is 504 million yuan, with a term of 30 years, and the original equity holder is China State Construction (Tianjin) Co., Ltd. [1] - The product is backed by the Zhongjian Center office property owned by China State Construction (Tianjin) Co., Ltd., and it was issued at a premium, reaching the upper limit of the inquiry range [1] - This financing model provides a replicable and promotable innovative path for the issuance of equity attribute products in the construction industry [1] Group 2 - The issuance is expected to continuously deepen the inter-institutional REITs service in alignment with national strategies and empower the core value of industrial transformation [1]