CapitaLand Commercial C-REIT (CLCR) has received the green light from the China Securities Regulatory Commission to register for its listing on the Shanghai Stock Exchange. This pivotal move will see CLCR become China’s first international-sponsored retail C-REIT, with the listing anticipated by the fourth quarter of 2025. The initiative aims to raise approximately RMB2.1 billion (S$375 million) through the issuance of 400 million units.
The listing represents a strategic expansion for CapitaLand Investment Limited (CLI), marking its eighth listed fund and reinforcing its position as Asia Pacific’s largest REIT manager by market capitalisation. The move aligns with CLI’s strategy to leverage onshore capital and enhance its funds under management and recurring fee income.
CLCR’s initial portfolio will focus on high-quality retail assets in China, benefiting from government policies aimed at boosting domestic consumption. The portfolio includes CapitaMall SKY+ in Guangzhou and CapitaMall Yuhuating in Changsha, both boasting high occupancy rates and strategic locations. These assets promise stable rental income, supported by a diverse tenant base and experienced asset management teams.
CLI, along with strategic investors, will maintain at least a 20% interest in CLCR. CLI will continue to manage the assets post-listing and support CLCR’s growth through a pipeline of potential assets. With over 30 years of experience in China, CLI manages 43 operational retail properties across 18 cities, underscoring its deep market expertise.
As CLI continues to expand its global footprint, the company remains committed to sustainability, aiming for Net Zero carbon emissions by 2050.
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