ARA Asset Management has entered into a sale-and-purchase agreement to acquire a 50 percent stake in Dasin Retail Trust Management Pte. Ltd. (DRTM), the trustee manager of Dasin Retail Trust listed on the Singapore Exchange (SGX-ST), and approximately 5 percent of the total units issued in the Trust, via its subsidiaries.
Listed on the SGX-ST in 2017, Dasin is the only listed retail property trust that provides direct exposure to the Guangdong Hong Kong Macau Greater Bay Area (GBA). Since its listing, the Trust’s portfolio has doubled from three to seven properties, and AUM has more than doubled from RMB4.5 billion (S$1 billion/$750 million) to RMB11.6 billion (S$2.3 billion/$1.7 billion). Its portfolio comprises seven destination, regional and suburban retail malls, which are strategically located in high-population catchment areas with limited competition within the fast-growing cities of Zhongshan, Zhuhai and Foshan.
