China Overseas Land Files Second REIT Listing for Foshan Mall

On September 7, 2026, China Overseas Land & Investment (00688. HK) announced that China Asset Management and CITIC Securities have submitted registration and listing application materials to the China Securities Regulatory Commission and the Shenzhen Stock Exchange for the China Overseas Closed-End Commercial Real Estate Investment Fund. The company plans to spin off the Foshan Qiandeng Lake MixC World project and list it independently on the Shenzhen Stock Exchange as a commercial real estate REIT. The underlying asset of this REIT is the Foshan Qiandeng Lake MixC World shopping center, located in Nanhai District, Foshan City, Guangdong Province. The project company is Foshan Zhonghai MixC World Commercial Management Co. , Ltd. , with the project subsidiary wholly owned by China Overseas Development, an indirect wholly owned subsidiary of China Overseas Land & Investment. Under the transaction structure, upon establishment, the public fund will use the proceeds to subscribe for all interests in the asset-backed special plan, which will then acquire all interests in the project company. Upon completion of the acquisition, the project company will be 100% owned by the REIT, and the REIT will not be consolidated into China Overseas Land & Investment's financial accounts. This is the second REIT project under China Overseas Land & Investment. On October 31, 2025, its first consumer infrastructure REIT, the China Overseas Consumer REIT (fund code: 180607), was listed on the Shenzhen Stock Exchange, with the underlying asset being the Yingyue Lake MixC World shopping center in Nanhai District, Foshan. The interim report shows that the China Overseas Consumer REIT achieved operating revenue of RMB 63.4976 million during the period, with net profit of RMB 145,100 and a net profit margin of 0.23%. The distributable amount was RMB 33.476 million, with actual distribution of RMB 29.454 million, representing a distribution ratio of 87.98%, against an annual distribution commitment of no less than 90%. The fund's net asset value per unit at the end of the period was RMB 5.1956, down from the initial listing level.