CapitaLand Investment Limited (CLI) has applied for the registration and listing of its first real estate investment trust in China, to be named CapitaLand Commercial C-REIT (CLCR), with the China Securities Regulatory Commission (CSRC) and the Shanghai Stock Exchange (SSE).
The listing would mark the first international-sponsored retail C-REIT and the first such C-REIT by a Singapore-based company once approved. This would increase funds under management of CLI’s listed funds platform, strengthening its leading position as Asia Pacific’s largest REIT sponsor-manager by market capitalization.
CLCR will invest in operating retail assets in China, benefiting from the Chinese government’s policies to stimulate domestic consumption. It will be seeded with two high-quality mature assets, CapitaMall SKY+ in Guangzhou and CapitaMall Yuhuating in Changsha. The properties have a combined value of approximately RMB2.8 billion ($383 million) and a total gross floor area of
