On April 17, CapitaLand Investment announced that it has submitted an application to the China Securities Regulatory Commission and the Shanghai Stock Exchange, intending to launch its first public consumer infrastructure REIT - CapitaLand Commercial C-REIT. This is the first consumer public REIT product submitted by an international asset management company in China.

  "As the second largest consumer market in the world, China has unique structural growth opportunities and consumption upgrading needs, which provides us with special investment opportunities. The launch of CapitaLand Commercial C-REIT is an important step for CapitaLand Investment to further deepen its strategic layout in China. With the increase in policy support and the continuous maturity of the market, China's public REITs market is expected to usher in broader development prospects. Consumer infrastructure Public REITs through the value discovery function of the capital market, through the capital market value discovery function, it can not only optimize consumption scenarios, but also promote consumption upgrading and help expand domestic demand. In the future, CapitaLand Investment will continue to deepen its roots in the Chinese market, use real estate asset management and innovative financial tools to contribute to China's high-quality economic development." said Pan Zixiang, CEO of CapitaLand Investment (China).

  It is reported that CapitaLand Commercial C-REIT aims to invest in high-quality shopping center assets in mainland China and fully grasp the industry opportunities brought by the policy of "stimulating consumption and expanding domestic demand". The first two assets included are Capita Land Plaza Yunshang in Guangzhou and Capita Land Plaza Yuhuating in Changsha. The total scale is about 2.8 billion yuan, the total construction area reaches 168,405 square meters, and the overall occupancy rate is about 97%. CapitaLand Plaza Yunshang is currently jointly held by CapitaLand Investment and CapitaLand Development, while CapitaLand Plaza Yuhuating is an asset under CapitaLand China Trust. The proposed CapitaLand Commercial C-REIT is currently the only consumer public REIT that includes the asset portfolio of shopping centers in first-tier cities.

  As strategic investors, CapitaLand Investment, CapitaLand China Trust and CapitaLand Development will jointly hold at least 20% of CapitaLand Commercial C-REIT. As the initiator and operation management agency, CapitaLand Investment will continue to be responsible for the operations of CapitaLand Plaza·Yunshang and CapitaLand Plaza·Yuhuating after the listing of CapitaLand Commercial C-REIT. In addition, CapitaLand Investment will support the growth of CapitaLand Commercial C-REIT and CapitaLand China Trust, providing them with the high-quality asset reserves needed for future expansion. As of the end of 2024, CapitaLand Investment has managed more than 40 retail properties in 18 cities in China, with an asset scale of more than 80 billion yuan.

  Pan Zixiang said, "The declaration of CapitaLand Commercial C-REIT is in line with CapitaLand's asset-light strategy and once again demonstrates our long-term commitment to the Chinese market. Participating in China's public REITs market will help us gain more extensive domestic long-term equity capital. This move complements CapitaLand China Trust - Singapore-listed funds are mainly aimed at international investors, while China's public REITs are better able to meet the needs of domestic and foreign investors. This will help us become an ideal partner for domestic and foreign investors. With our 30 years of operating experience in China and rich high-quality retail asset reserves, CapitaLand China Trust and CapitaLand Commercial C-REIT will both occupy a good position in this dynamic market, seize opportunities and provide sustainable returns for holders."

  The issuance and listing of CapitaLand Commercial C-REIT still needs to meet the following conditions: First, it will be approved at the subsequent special shareholders' meeting of CapitaLand China Trust; second, it will be approved by the China Securities Regulatory Commission and the Shanghai Stock Exchange. (Reporter Li Fang)

[Editor in charge: Li Lin]