Perennial explores Reit listings in China with ‘aggressive’ expansion in medical, eldercare sectors

[SINGAPORE] Property player Perennial Holdings is exploring real estate investment trust (Reit) listings in China – one for commercial properties and another for healthcare assets, the company’s chief executive, Pua Seck Guan, told The Business Times.

The Reits, which could be listed in Shanghai or Shenzhen, would ride on booming demand from yield-hungry investors on the mainland.

“The Chinese love this class of assets. If you go and do a check today, the Chinese Reit yield is below 5 per cent; in Singapore, it’s more than 7 per cent,” said Pua in an interview at the company’s one-north office.