What is SASSEUR REIT?
Sasseur REIT is a real estate investment trust based in Singapore that owns a starting collection of four retail outlet malls in China. This allows investors to invest in China’s rapidly expanding retail outlet mall industry.
Following its listing on the Singapore Exchange (SGX) on March 28, 2018, Sasseur REIT became the first REIT in the outlet mall sector to be listed in Asia.
Sasseur REIT is supported by Sasseur Cayman Holding Limited, which operates numerous outlet malls across China. Sasseur Asset Management, a subsidiary of Sasseur Cayman Holding Limited, manages Sasseur REIT.
How many assets does Sasseur REIT currently have in China?
Sasseur REIT owns four assets in the Chinese cities of Chongqing Liangjiang, Chongqing Bishan, Hefei, and Kunming, valued at a total of RMB 8.5 billion.
- Chongqing Liangjiang
In August 2008, Sasseur opened its first outlet mall in the northeastern region of Chongqing. This location was strategically selected to be just 10 km from Chongqing Jiangbei International Airport and 20 km from Jiefangbei, the city’s retail hub.
The mall features many leading international brands, including Gucci, Hugo Boss, Armani, Michael Kors, and Coach, making it a destination for discerning shoppers seeking high-end merchandise.
As of the end of 2022, the Sasseur outlet in this city had a total net lettable area of 50,885 square metres and a 100% occupancy rate with 375 tenants. The property was valued at RMB 3,129 million.
- Chongqing Bishan
The Sasseur outlet in Bishan had a soft opening in January 2014, with its zones gradually unveiled over the following two years until completion in 2016. The mall is less than 3 km from downtown Bishan and adjacent to Jinjian Mountain, a popular tourist attraction.
The mall comprises three distinct zones and boasts a total net lettable area of 44,706 square metres. As of the end of 2022, the property had an occupancy rate of 92.8% with 180 tenants, and a total valuation of RMB 834 million.
- Hefei
Heifei Sasseur outlet opened its doors in May 2016, offering a range of entertainment and luxury brand options for shoppers. The mall is situated in the High-Tech Industrial Development Zone of Hefei, along major urban roads that attract significant foot traffic.
With a total net lettable area of 144,583 square meters, Sasseur Hefei outlet had an occupancy rate of 98.1% with 333 tenants and was valued at RMB 2,880 million as of the end of 2022.
- Kunming
Kunming outlet is the latest addition to the portfolio of Sasseur REIT, and it began operations in December 2016. The mall features various stores in retail, healthcare, entertainment, and cultural sectors.
Outlets in the city are situated in Taiping New City, a transportation hub that provides easy access to several major highways, such as Gaohai Highway, the Northwest Highway, and the Kun’an Highway.
The total net lettable area of Sasseur Kunming outlet is 70,067 square metres. As of the end of 2022, the mall had a 97% occupancy rate with 225 tenants and had an estimated valuation of RMB 1,652 million.
(Information provided was accurate at the time of publication. For latest changes and updates, head over to official websites)
