“申报潮”来了！商业不动产REITs半个月申报12单

Core Insights - The market response to the pilot program for commercial real estate REITs initiated by the China Securities Regulatory Commission (CSRC) at the end of 2025 has exceeded expectations, with 12 commercial real estate REITs products submitted for approval within half a month, and 11 of them quickly accepted [1][6]. Group 1: Market Activity - As of February 12, 2023, the Shanghai Stock Exchange has received 11 applications for commercial real estate REITs, with 10 accepted, including the recent acceptance of the Guotai Haitong Chongbang Fund, which is backed by the Shanghai Jiatinhui City Life Plaza project [2]. - The Shenzhen Stock Exchange has also joined the trend, with its first commercial real estate REIT, "Huatai Zijin Huazhu Anzhu Fund," being accepted on February 5, 2023, focusing on hotel properties in Guangzhou and Shanghai [3]. Group 2: Company Initiatives - Shoukai Co. plans to package three projects, including Songjiazhuang Fumao, for submission to the REITs market, indicating a proactive approach to asset management and financing [4]. - Shoukai Co. emphasizes that the funds raised from the REITs will be used for business-related acquisitions, investments, debt repayment, and liquidity, explicitly stating that they will not be used for purchasing residential land [5]. Group 3: Industry Trends - The rapid submission of 12 REITs in a short period reflects the urgent demand from original equity holders for asset revitalization and the efficient operation of the regulatory acceptance process [6]. - Industry experts suggest that 2026 may become a pivotal year for the large-scale development of commercial real estate REITs in China, as more companies are expected to utilize this method to revitalize assets and broaden financing channels [6].