Sinarmas Land takes stake in Chinese Reit

Singapore

PROPERTY developer Sinarmas Land (SML) has entered into a heads of agreement with KaiLong Holdings Ltd (KLR) to take up a strategic stake in what could be the first Chinese Reit to be listed on the Singapore Exchange (SGX) as well as its Reit manager and property manager.

This agreement, which precedes a negotiated contract, was inked on Sunday upon an invitation from KaiLong to participate in the proposed listing and offering of units in KaiLong China Real Estate Investment …