The much-talked-about consumer REITs welcomed good news again. Recently, Huaxia ** announced that Huaxia Jinmao Commercial REIT (**508017)) will be listed on the Shanghai Stock Exchange on March 12. In the context of the recovery of the public REITs market, the addition of a new category of consumer REITs is expected to further stimulate the market vitality.
Changsha Lanxiu City, the underlying asset of China Jinmao Commercial REIT, is the first Lanxiu City project under China Jinmao, and it is also the most mature high-quality shopping center in the Lanxiu City system. **According to the prospectus, the annual passenger flow of Changsha Lanxiu City exceeds 10 million, and the passenger flow density has reached 042 people, at the excellent level of the industry. With the blessing of advantageous location, high-quality customer base and solid consumption foundation, Changsha Lanxiu City has maintained a rapid development trend close to full lease in the past 7 years. China Jinmao, the initiator of ChinaAMC Jinmao Commercial REIT, is a leading urban operator and green building technology service provider under the state-owned enterprise Sinochem, and has been selected as one of the Fortune China 500 for many years, and has rich experience in asset reserves and capital operation in the field of commercial shopping center assets.
Relying on the excellent investment value of the underlying assets and the professional empowerment of the promoter and operation management institutions, ChinaAMC Jinmao Commercial REIT has attracted a lot of attention from funds in the offering stage, and the total number of shares to be subscribed in the offline inquiry is 207 times. The public offering part of the pro-rata allotment was launched, and the actual confirmed proportion of valid subscription applications from public investors was 9441%。Based on the size of the offering and the amount available for distribution disclosed in the prospectus, the distribution rate of ChinaAMC Jinmao Commercial REIT in 2024 is 492%。
As one of the most important types of mature REITs market, consumer REITs have large assets and a high degree of marketization, which is an important carrier for investment and consumption growth. With the continuous advancement of the "14th Five-Year Plan", guiding policies to promote consumption and favor shopping malls have been continuously released, creating a favorable policy environment for the development of shopping centers. Boosted by consumption upgrades, the shopping mall industry continued to recover and continued to maintain a steady growth trend. Industry analysts said that at present, public REITs are entering a state of reasonable valuation and rational market, and the value of REITs with stable and sustainable dividend cash flow continues to increase.
Disclaimer: This article is for informational purposes only and does not constitute investment advice.