Our speaker, Mr. Derek Cheung, is the Chief Executive Officer of New Century Asset Management Limited, the manager of New Century Real Estate Investment Trust (HK stock code 1275), which is the first listed China hotel REIT in the world and was rated the 7th best managed Chinese company under the FinanceAsia’s Best Managed Companies – China Poll 2014.
New Century REIT is sponsored by New Century Group, the largest privately owned hotel group in China, and The Carlyle Group, a global alternative asset manager with US$193 billion in assets under management as of 30 June 2015. New Century Group currently has about 166 star-rated hotels in operation or under development in China and was ranked 26th in 2014 among the world’s hotel groups by Hotels magazine.
Having proven its execution capability through acquiring two 5-star hotels separately in the first and the second year post IPO, New Century REIT’s portfolio comprises six 5-star and one 4-star hotels, located in Hangzhou, Shanghai, Ningbo, Qiandao Lake, Kaifeng and Changchun. Beside organic growth, New Century REIT will continue to grow through acquisitions, leveraging both on New Century Group’s significant hotel pipeline and a large pool of hotels that are expected to become available for sale globally in the next few years.
The talk shall cover
· What are REITs: Definition, key features, characteristics, regulations and constraints etc
· REITs - A key element for real estate ecology
· Why HK REITs market development has been slow?
· Growth driver for REITs in the world
· Future of HK REITs
· REITs market development in China