CapitaLand China Trust Jumps 2.42%; Capitaland Investment to Launch Inaugural Onshore REIT in China
CapitaLand Investment (SGX:9CI), CapitaLand China Trust (SGX:AU8U), and CapitaLand Development are seeking the listing of a retail REIT on the Shanghai Stock Exchange, according to a Thursday filing with the Singapore Exchange.
The new REIT will be named CapitaLand Commercial C-REIT and will be seeded with the CapitaMall Sky+ in Guangzhou and CapitaMall in Yuhuating in Changsha with a combined value of about 2.8 billion yuan, a gross floor area of 168,405 square meters and an aggregate committed occupancy of 97%.
All three companies will collectively hold at least 20% interest in the REIT. The proposed listing of CapitaLand Commercial C-REIT is subject to approval of independent unitholders as well as approval from Chinese regulators.
CapLand China T jumps 2.42% at 1:34 pm, Apr 17th.
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