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Link REIT eyes HK and mainland鈥檚 first-tier cities
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LINK REIT, Asia鈥檚 largest real estate investment trust by market capitalization, said yesterday it will continue to seek opportunities in retail and office properties in the four first-tier cities in the Chinese mainland as well as Hong Kong.
鈥淥ur investment strategy is to invest in sustainable, income-producing retail and office properties in five Chinese cities which consist of Hong Kong, Beijing, Shanghai, Guangzhou and Shenzhen,鈥 George Hongchoy, executive director and CEO of Link Asset Management Ltd, manager of Link REIT, said in Shanghai.
鈥淥ur investment in the Chinese mainland stands below 10 billion yuan (US$1.56 billion) at the moment, and we believe there鈥檚 great room for business expansion here.鈥
Listed on the Hong Kong stock exchange in 2005 and wholly owned by private and institutional investors, Link REIT first tapped into the Chinese mainland market in March when it acquired a shopping mall for 2.5 billion yuan in Beijing鈥檚 Haidian District.
In July, it agreed with Shui On Land Ltd to pay more than 6.6 billion yuan for the office and retail complex at Corporate Avenue 1 and 2 in Shanghai鈥檚 downtown Xintiandi area as the trust further expanded its portfolio on the mainland.
The trust will acquire office buildings in prime locations with high-quality tenant mix and retail property projects which enjoy high foot traffic and well developed infrastructure, according to Hongchoy.
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