SM Prime eyeing offshore real estate fund for malls in China

From Bworldonline:  Sy-led SM Prime Holdings, Inc. is considering putting the assets of its Hong Kong-based property unit under a Chinese real estate investment trust (REIT) to solidify its overseas market presence.

AN Artist’s rendition of the SM mall in Chengdu -- www.smcity.cnThis is an alternative to an offshore public listing, an option which the country’s largest mall operator is also studying.
“The [company’s plan] in China is that once we get a good number of malls and the condition is still good, we can either do an initial public offering (IPO) or a REIT offering,” Mr. Sio said.

“In China, if you do an IPO or REIT, you can sell as high as 25 times of your capital. [Here in the Philippines,] it is only 14 or 15 times. So the upside potential in China is huge,” Mr. Sio said.  

Continue reading here http://www.bworldonline.com/main/content.php?id=3413

SM Investments on track to hit profit target
http://www.gmanews.tv/story/179638/sm-investments-on-track-to-hit-profit-target


SM Investments sees over P15-billion income this year