ESR Group has received approval for its application for the registration and listing of ESR China REIT (ESR C-REIT) by the China Securities Regulatory Commission (CSRC).
ESR is the sponsor of ESR C-REIT, AVIC Fund is a licensed REIT manager under the current C-REIT listing rules, and China Merchants Securities is the financial adviser.
As sponsor and project manager, ESR will be able to provide ESR C-REIT with a future pipeline of assets for acquisition from its quality portfolio of assets under management (AUM) and development pipeline.
In China, ESR Group manages more than 170 assets, with a total AUM of more than $30.7 billion and gross floor area (GFA) of about 14.9 million square meters (160.4 million square feet). Nearly 70 percent of ESR’s stabilized properties in China are located in major economic hubs in the Yangtze River Delta and Greater Bay Area, where demand is driven by strong activity in renewable-energy industries and cross-border ecommerce.
