Current location site: Global

CapitaLand Commercial C-REIT debuts on Shanghai Stock Exchange as China's first international-sponsored retail C-REIT

Distinguished leaders, honoured guests, ladies and gentlemen,

Good morning.

Today marks a significant milestone as we witness the listing of CapitaLand Commercial C-REIT (CLCR) on the Shanghai Stock Exchange.  As we approach the 35th anniversary of Singapore-China diplomatic relations, this achievement reflects the strength of our bilateral partnership and our shared commitment to market development.

I would like to extend our appreciation to the National Development and Reform Commission, the China Securities Regulatory Commission, the Shanghai Stock Exchange, and the provincial governments of Guangdong and Hunan for their strategic guidance.  We would like to also thank China Asset Management and CITIC Securities for their professional execution, and to our investors, partners, and the CapitaLand team for their commitment to this initiative.

CLCR represents a strategic advancement for both CapitaLand Investment (CLI) and China’s capital markets.  As the first international-sponsored retail C-REIT, this vehicle demonstrates the continued evolution and internationalisation of China’s public REITs market.  CapitaLand Group – through CLI, CapitaLand China Trust, and CapitaLand Development – will hold a strategic stake in CLCR with CLI serving as the asset manager.

Our groundbreaking platform provides domestic investors access to institutional-grade assets amid a low-interest rate environment, and also, through a transparent and efficient operating framework, offers opportunities for international participation in China’s public REITs market.  It exemplifies how global capital and local expertise can be effectively deployed within China’s C-REIT market.

As a leading global real asset manager and the largest REIT manager in Asia Pacific, CLI combines its extensive international REIT management expertise with deep insights into the Chinese market to develop a high-quality portfolio of shopping malls across Tier one and top Tier two cities for CLCR.  Throughout the process from application to listing, we have benefitted from the efficient support of Chinese regulators and witnessed strong market demand for quality assets.  The offline institutional tranche was oversubscribed 253 times and the public tranche by 535 times, underscoring the market’s dual recognition of CLI's asset management capabilities and the resilience of China’s consumer market.

True value stems from our responsibility to society and our commitment to the future.  With 23 years of REITs management experience, ownership stakes in eight REITs globally and a portfolio of nearly 50 retail assets in China with assets under management exceeding RMB80 billion, CLI is well-positioned for sustainable growth.  We look forward to working hand-in-hand with the authorities, investors, and partners to enhance this platform, contributing CapitaLand’s strength to China’s pursuit of high-quality economic development.

CLI’s approach embodies the wisdom of ’seizing momentum, leveraging opportunities, creating favourable conditions, and riding the wave of success’.  Although we bring over 20 years of REIT management expertise, we believe that ‘respect is earned, not given’, and we remain committed to ‘earning our stripes’.  Building on 35 years of close China-Singapore bilateral cooperation, CLI will continue to deepen its presence in China, harness global expertise to drive local innovation, and maintain our focus on long-term value creation.  We look forward to advancing China’s public REITs market in partnership with our stakeholders across the ecosystem, and to grow with China.

Thank you.