Money Matters with Hongbin Jeong and Chua Tian Tian (4pm - 7pm)Under the Radar: Sasseur REIT’s CEO on its focus on outlet malls in China; Why it chooses to be present in Tier 2 cities; Pure play on China and if Sasseur is putting all of its eggs in one basket; China’s domestic vs international tourism recovery; DPU up 1.5% yoy for Q12023; Gearing ratio and opportunities for M&A and inorganic growth
We’ve heard of commercial REITs, residential REITs and industrial REITs. But how about a REIT focused on outlet malls in China specifically?
Our guest for today is from Sasseur REIT which is an SGX-listed REIT since March 2018, and the first outlet REIT listed in Asia. The firm’s portfolio consists of four outlets in China, namely in Chongqing, Kunming and Hefei.
But why did the company focus on these Tier 2 cities? Also – how does the REIT assess its reliance on China, given the strict lockdowns we saw during the pandemic?
Meanwhile, the company recently reported its Q1 results, where distribution per unit rose 1.5 per cent from the previous year. The company attributed this to strong outlet sales boosted by pent-up consumer spending.
To what extent has tourism recovered to pre-pandemic levels and is there a significant difference between the recovery of domestic and international travels?
On Under the Radar, Drive Time’s finance presenter Chua Tian Tian sat down with Cecilia Tan, CEO, Sasseur REIT for more.
