Core Viewpoint - Public REITs have seen record high returns this year, with significant interest from institutional investors and a growing number of new listings [1][4][6]. Group 1: Performance Highlights - As of May 23, 2023, both Huaxia Dayuecheng Commercial REIT and Huazhong Bailian Consumption REIT have recorded nearly 50% increases, specifically 49.21% and 48.90% respectively [2][4]. - A total of 40 REITs have experienced gains exceeding 10% this year, with 19 REITs showing increases between 20% and 40% [4][6]. Group 2: Market Expansion - The public REITs market is expanding, with 8 new REITs launched this year and several more projects in the pipeline for approval [6][8]. - Institutional investors, including insurance companies, brokerage firms, and wealth management subsidiaries, are increasingly investing in public REITs [6][8]. Group 3: Investment Characteristics - Public REITs offer unique asset allocation benefits, independent of stock and bond markets, and are suitable for long-term holding due to their stable cash distribution policies [5][6]. - The investment value of public REITs is further enhanced in a declining interest rate environment, making them attractive for investors seeking stable returns [4][5].