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Listed on the Singapore Exchange in December 2006, CRCT is the first pure-play China retail REIT in Singapore, established with the objective of investing on a long-term basis in a diversified portfolio of income-producing real estate used primarily for retail purposes and located in China.
CRCT's initial portfolio of seven retail malls is strategically located within large population catchment areas in five cities across China. This includes Wangjing Mall, Jiulong Mall and Anzhen Mall in Beijing, Qibao Mall in Shanghai, Zhengzhou Mall in Zhengzhou, Jinyu Mall in Huhehaote and Xinwu Mall in Wuhu. The quality geographically diversified portfolio, valued at approximately S$690 million, is anchored by major international and domestic retailers, such as Wal-Mart, Carrefour and the Beijing Hualian Group. Other tenants include Sport 100 and B&Q. As at 31 December 2006, CRCT’s market capitalization is close to S$1 billion.
CRCT is managed by an external manager, CapitaRetail China Trust Management Ltd, which is an indirect wholly-owned subsidiary of CapitaLand.
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