The first foreign-funded consumption REITs have been approved.

The public REIT market has reached a milestone breakthrough with the approval of the first foreign-funded consumer REITs. Huaxia Keppel Commercial REIT recently received no objection letter from the Shanghai Stock Exchange and obtained approval from the China Securities Regulatory Commission to raise a total of 400 million fund units. The main original equity investor and operating management institution is Keppel Investment, and the manager is Huaxia Fund. It is reported that Huaxia Keppel Commercial REIT's initial assets include Keppel SquareYunshang in Guangzhou and Keppel SquareYuhuating in Changsha, with a total construction area of 168,400 square meters, and an overall rental rate of approximately 96% as of March 31, 2025.