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First Shanghai REIT Ready to Roll

BEIJING-This would the first REIT from Shanghai and only the second from the Chinese mainland.

By Anita Howarth | Updated on May 30, 2006

BEIJING-The Shanghai Greenland Group, one of China’s biggest developers, plans to float a REIT on the Hong Kong stock exchange with half a dozen commercial properties. A company spokeswoman, who announced details of the plan, says the timing and size of the REIT have yet to be decided.

This would the first REIT from Shanghai and only the second from the Chinese mainland. Last December Guangzhou Investment’s GZI REIT became the first to list in Hong Kong when it raised US$216 million.

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