About REITs

windyang

想知道出去读BS的童靴，回来后都在RE行业工作吗？都集中在哪些方向？

对国内的REITs发展怎么看呢？
出去读BS对想从事这个方向的工作有什么帮助呢？

equn

讲了好多年了，没什么太大动静。一些国内物业倒已经成为海外REIT的资产部分了，比如HK的GZI和SG的CapitaMall。

equn

另外，MSRE(D)基本都不在B-school，有的是multi-discipline的，有的是职业学院的，有的是建筑学院的，有的是规划学院的。B-school下有不少MBA都有RE方向。

ball2003

equn，我给你回了邮件。非常抱歉，耽搁了这么久。

equn

讲了好多年了，没什么太大动静。一些国内物业倒已经成为海外REIT的资产部分了，比如HK的GZI和SG的CapitaMall。

-- by 会员 equn (2010/11/30 2:17:35)

08年有一篇老论文：
Securitising China real estate: a tale of two China-centricREITsPurpose – There is currently no real estate investmenttrust (REIT) listed in China. As of date, only two REITs – GZI REITof Hong Kong and CapitaRetail China Trust (CRCT) of Singapore –have securitised Chinese property assets. The purpose of this paperis to examine the driving forces and the obstacles surroundingChina REITs, and evaluate REIT securitisation as an exit strategyfor Chinese properties.

Design/methodology/approach – The paper analyses theperformance of the two cross-border REITs and investigates whetherREITs holding Chinese assets outperform other listed REITs.

Research limitations/implications – CRCT outperforms GZIREIT as well as some of the other Singapore REITs, while GZI REITranked second lowest in terms of price performance when compared toother Hong Kong REITs. The limited history of CRCT suggests thatwhen a well-structured REIT holding Chinese assets can perform verywell. We also infer that performance is closely linked to portfoliocomposition and diversification, growth story and originatorreputation.

Originality/value – The study shows that there is indeed astrong local demand for China REITs, and that REITs can provide analternative source of real estate financing for Chinese developersand promote a better regulated Chinese real estate market.

Qme

我个人非常喜欢RE，今后也想在这个领域发展，一个关系较好的朋友（她有很多地产客户）跟我说REITs是中国地产行业发展方向，她比较看好国内REITs的发展。

sophiadc

在REIT做了2年多，我进去的时候是在上升，现在萎缩的蛮厉害的，境外资金都很保守，而且现在主要都投在retail.

stjmz

REITs在现行的税收政策的情况下IRR太没吸引力了

equn

在REIT做了2年多，我进去的时候是在上升，现在萎缩的蛮厉害的，境外资金都很保守，而且现在主要都投在retail.

-- by 会员 sophiadc (2010/12/11 12:57:13)

LZ去的哪家REIT？我就在Retail。

michael_xiaohui

有继续讨论的吗？