Shoucheng Holdings invests in two REITs
Infrastructure investor Shoucheng Holdings Ltd. (0697.HK) said on Thursday it has invested in two real estate investment trusts (REITs), saying the move will assist in the advancement of China’s high-quality economic development.
One investment was in Guotai Haitong Sasseur Commercial REIT, whose underlying asset is the Sasseur (Xi’an) Outlets mall in the Northwestern city of Xi’an. The other was in the CSC Sunlon Commercial REIT, whose underlying asset is the Longde Plaza in Beijing’s Changping District. Shoucheng did not specify the size of either REIT investment.
The investments come as China encourages more companies to spin off their real estate assets into REITs to recoup money from their development projects, while also offering a new financial product for investors.
Shoucheng’s shares fell 2.3% on Thursday after the announcement. The stock is down about 19% this year.
By Doug Young
To subscribe to Bamboo Works weekly free newsletter, click here
Related Articles
RELATED ARTICLES
-
Two years after its debt crisis, China property exposure still haunts Fosun
- After years on the sidelines, VNET seizes on China’s AI moment with new CATL tie-up
-
Its financial house back on stabler ground, CIFI Holdings isn’t out of the woods yet
0884.HK
- To revenue and beyond: Defining valuations in China’s commercial space industry
- Vipshop looks to outlets in bid to jumpstart growth
-
GDS commits up to 50 billion yuan to capture booming AI data center demand
GDS.US
-
Jack Ma-backed insurer seeks riches in Hong Kong gold tokenization foray
0376.HK
