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Investors - APRIL 23, 2019

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GIC and Grandjoy Holdings to create first publicly listed REIT in China

by Andrea Zander

Singapore sovereign wealth fund GIC and Chinese shopping mall operator Grandjoy Holdings Group have received regulatory permission to create China’s first publicly listed real estate investment trust (REIT), according to a South China Morning Post report.

The new program will allow individual Chinese investors to buy shares in rent-yielding properties for the first time and also provide the company with another exit route for its real estate funds’ investments.

Grandjoy is the property arm of state-owned conglomerate Cofco.

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