Guangzhou developer to launch REIT
25 November 2005
Chinese state-owned developer Guangzhou Investment is expected to raise US$250-$300 million by listing a real-estate investment trust in Hong Kong, the Wall Street Journal reported, citing people familiar with the situation. The new REIT, dubbed GZI Real Estate Investment Trust, comes will launch hot on the heels of the Hong Kong government's US$2.49 billion Link REIT, the world's largest such offering. It has been reported that Guangzhou Investment's REIT, which will include four to five mainland Chinese properties, may carry a yield of 7% or more, higher than the Link REIT's yield of 5.53% to 6.31%.
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