htmlOn June 12, Hu Feng, senior director of Dade & Road, and head of valuation and consulting services at the 2019 China Real Estate Finance Forum, said that in the past five years, real estate asset securitization has played a positive role in enriching corporate financing and property exit channels, forming a closed loop of the "investment, financing, management and withdrawal" industry, and reducing systemic financial risks in the market. The highly anticipated public offering REITs has not arrived yet, but domestic REITs have achieved innovations in breaking away from the main body's credit enhancement, shelf issuance, expansion and other aspects, and are constantly aligning with standard REITs. Wang Sheng, vice president of Greater China at Dard & Bank, said that at present, China's real estate market has gradually transitioned from "residential + incremental market" to the stage of "existing assets + long-term mechanism". Securitization of real estate assets is an important measure to revitalize existing capital. It can help companies holding high-quality properties to achieve project financing or withdrawal, and help a large number of holding business properties to be reborn and transformed. In the new market environment, real estate companies and financial institutions that best adapt to market laws are actively improving and improving the level of corporate asset operation and management. "
Liu Bing, deputy managing director of China Capital Market at Dard & Bank, said that in recent years, the domestic real estate investment market has become more and more active, and the total investment has repeatedly hit new highs. The high-quality properties in China's first- and second-tier cities have attracted many investors, including foreign capital. As land supply in the core area becomes increasingly scarce, first-tier cities such as the North China have entered the stock market. In addition to mature investment properties with stable returns, urban renewal projects with room for transformation have become new goals. It is expected that with the continuous development of the domestic REITs market, investors' exit channels will increase, and domestic real estate investment will The capital market will be more dynamic.
It is understood that since 2007, Derby & Bank has explored the domestic REITs field, actively participated in the development of China's real estate asset securitization industry, and has completed due diligence services for 59 issued real estate asset securitization projects, with a product issuance scale of more than 144 billion yuan.
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