China's REITs in final phase of approval

BEIJING: China's real estate investment trust (REITs) plan is now in the last lap of approval from the State Council.

"If everything proceeds as anticipated, the first batch of REITs may be launched in the second half of this year.
Only institutional buyers would be allowed to purchase the REITs initially," sources told China Daily on May 19. 

According to the sources, Shanghai would be the first center to roll out an unlisted REIT. The instrument would, in all probability, be supported by State-backed companies like Waigaoqiao, Lujiazui, Jinqiao and Zhangjiang, which own office buildings and warehouses in free trade zones.
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