The Chinese capital has just issued the country’s first publicly offered real estate investment trust (REIT) with the help of municipal lender Bank of Beijing.
On 7 June Bank of Beijing served as off-site sales agency and investor for the issuance of the “Zhonghang Shougang Biomass Sealed Infrastructure Securities Investment Fund” (中航首钢生物质封闭式基础设施证券投资基金).
According to domestic media reports the fund is the first publicly offered REIT in China.
Issuer Shougang Huanjing Chan Ye Co., Ltd. (Shougang Environmental Industry Co., Ltd.) (首钢环境产业有限公司) said that the funds will mainly be used to invest in new infrastructure facilities, to drive its main business of disposal and processing of residential and catering waste in tandem with power generation.
The project is situated in the Mentougang district of Beijing, and encompasses biomass clean energy facilities.