Treasury Holdings Real Estate has announced that Treasury China Trust (TCT) has started trading on the Singapore Exchange Securities Trading Limited (SGX-ST).
TCT is a business trust with a high-quality portfolio of commercial income-producing development and property projects located in the political and financial centres of Beijing and Shanghai.
Mr. Richard Barrett, chairman of Treasury Holdings, said, “This strategic move to list in Singapore realises our long-term commitment to Asia and enables us to tap into the strong capital inflows experienced in this region through our unique business model.”
“We are confident of delivering total return to our unitholders over the medium term underpinned by the demand from tenants for high quality, well-managed commercial property in China and our internal development pipeline,” he added.
Treasury Holdings, which is the trustee manager of TCT and recently received the title of “Asia’s first Carbon Neutral Real Estate Company” from The CarbonNeutral Company, is represented by over 70 personnel in China who provide comprehensive financial and asset management services exclusively to the portfolio of income-producing office and retail properties of TCT.
The total assets of TCT consist of over 250,000 sq m of commercial income-producing property and another 150,000 sq m of real estate under development, which is likely to be completed within two years.
Mr. Richard David, CEO of Treasury Holdings, said that “with a solid track record of success in the management of the existing portfolio since 2007, our seasoned team of investment and asset management professionals will continue to be focused on proactive asset management of our existing portfolio and potential new commercial property investment opportunities with the aim of delivering strong total return to our investors.”
“Treasury Holdings has over 20 years experience in developing quality real estate across Europe and our ability to translate that success into China has played a key part in bolstering our leading position.”
Treasury Holdings has projected an annualised-distribution yield of 5.8 percent for this year.