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Sinarmas Land signs non-binding agreement to participate in KaiLong China Reit

SINARMAS Land (SML) said it has been invited by KaiLong Holdings Limited (KLR) to participate in the proposed listing and offering of units in KaiLong China Real Estate Investment Trust, a Reit to be set up here and listed on the Singapore Exchange.

SML on Sunday entered into a non-binding heads of terms with KLR for SML to participate in a strategic stake in KaiLong China Reit as well as its manager and property manager.

KLR, a company incorporated in the Cayman Islands, has proposed to set up KaiLong China Reit with an initial portfolio of seven business space properties in Shanghai and one office building in Chengdu in China. KLR will be the sponsor of KaiLong China Reit.