ENGLISH
|
JAPANESE
|
CONNECT WITH US:
Home
About
Contact
Log in
*
Home
Press release
Dec 07, 2021 09:20 JST
Source:
Yuexiu Real Estate Investment Trust
Unitholders Approved Yuexiu REIT's Acquisition of Yuexiu Financial Tower by a Majority Vote
Strengthens its deployment of Assets in Guangzhou CBD and Captures the Growth Opportunity of Greater Bay Area
HONG KONG, Dec 07, 2021 - (ACN Newswire) - Yuexiu Real Estate Investment Trust (HKEX stock code: 00405) announced that the proposal to acquire Yuexiu Financial Tower from Yuexiu Property Company Limited (HKEX stock code: 00123) was approved by unitholders at the extraordinary general meeting held today, with a majority vote of 96.24%.
Picture 1: Mr. Lin Deliang, Chairman, Executive Director and CEO of Yuexiu REIT (in the middle) chaired the extraordinary general meeting.
Picture 2: Mr. Lin Deliang, Chairman, Executive Director and CEO of Yuexiu REIT (third from the left) took a photo with the management team and the independent non-executive directors at the extraordinary general meeting.
Picture 3: Yuexiu Financial Tower
Yuexiu Financial Tower, the acquisition of which was approved by unitholders at the extraordinary general meeting, is a scarce top-tier international Grade A office building in the core district of Guangzhou Zhu Jiang New Town CBD. The 309-metre tall building is among the 10 tallest skyscrapers in Guangzhou. It has a total gross floor area of 210,282.94 square metres, a 4-storey shopping arcade, 64-storey office spaces, and a 4-storey basement carpark offering 827 parking spaces. In a strategic transportation hub, Yuexiu Financial Tower boasts convenient transportation access, with several major subway lines in its neighbourhood. Among these subway lines, Metro Line 18 was opened in September this year and Phase 2 of Line 13 is expected to open in 2022. It is also the only office building in Guangzhou that has a helipad for helicopter routes connecting Guangzhou, Shenzhen and Zhuhai. Its unique advantages have attracted many high-quality tenants from different industries including finance, business services, information technology, some being Fortune Global 500 enterprises.
Mr. Lin Deliang, Chairman, Executive Director and CEO of Yuexiu REIT, said, "The voting result has significant meaning as it fully reflects that the majority of unitholders are very supportive of Yuexiu REIT's acquisition of Guangzhou Yuexiu Financial Tower. After the acquisition is completed, Yuexiu REIT will own the largest PRC portfolio by valuation among Hong Kong and Singapore listed REITs. At the same time, with Guangzhou properties making up a larger portion of its portfolio, the Fund will be able to capture more effectively development opportunities in Guangzhou and the Guangdong-Hong Kong-Macao Bay Area. As manager of the Fund, we will continue to optimize the assets of Yuexiu REIT, maximise the value of its properties, thereby generate the highest returns for unitholders."
When the acquisition, rights issue and reverse merger are completed, Yuexiu REIT's pro forma distribution per unit (DPU) is expected to increase by approximately 3.4% and pro forma DPU Yield to increase from 6.68% to 7.16%.
In addition, unitholders whose names appear on the register of unitholders as at 9 December 2021 will receive a special distribution of RMB0.0255 per unit, or approximately RMB85 million in total. The special distribution will be paid within 30 business days after the acquisition is completed.
Source: Yuexiu Real Estate Investment Trust
Sectors: Real Estate & REIT
Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
Latest Release
Honda Reaches Basic Agreement with Asahi Kasei on Collaboration for Production of Battery Separators for Automotive Batteries in Canada
Apr 25, 2024 11:10 JST
UNIQLO Sponsors KAWS + Warhol Exhibition Tour, Starting in Pittsburgh
Apr 25, 2024 09:00 JST
Mitsubishi Power Begins Commercial Operation of Seventh M701JAC Gas Turbine in Thailand GTCC Project; Achieves 75,000 AOH To-Date
Apr 24, 2024 17:19 JST
MC and Denka Sign J/V Agreement in Fullerene Business
Apr 24, 2024 17:02 JST
Mitsubishi Motors Posts Record Sales in the Philippines in FY2023
Apr 24, 2024 13:56 JST
NEC Develops High-speed Generative AI Large Language Models (LLM) with World-class Performance
Apr 24, 2024 13:25 JST
Fujitsu SX Survey reveals key success factors for sustainability
Apr 23, 2024 10:25 JST
Fujitsu and METRON collaborate to drive ESG success: slashing energy costs, boosting productivity with new manufacturing industry solutions
Apr 22, 2024 16:09 JST
NEC Strengthens Commitment to Space Industry with Investment in Seraphim Space Venture Fund II
Apr 22, 2024 15:09 JST
Soft Space Launches the First and Only JCB Payment Gateway in Malaysia
Apr 22, 2024 15:00 JST
TOYOTA GAZOO Racing takes a one-two in Croatian thriller
Apr 22, 2024 10:47 JST
First-ever Mazda CX-80 Crossover SUV Unveiled in Europe
Apr 19, 2024 13:50 JST
Fujitsu develops technology to convert corporate digital identity credentials, enabling participation of non-European companies in European data spaces
Apr 19, 2024 10:17 JST
Mitsubishi Heavy Industries and NGK to Jointly Develop Hydrogen Purification System from Ammonia Cracking Gas
Apr 18, 2024 17:01 JST
Toyota Launches All-New Land Cruiser "250" Series in Japan
Apr 18, 2024 13:39 JST
Fujitsu and Oracle collaborate to deliver sovereign cloud and AI capabilities in Japan
Apr 18, 2024 11:14 JST
Eisai: Research on Treatments for Alzheimer's Disease Based on Its Pathological Mechanisms Recieves Award for Science and Technology (Research Category)
Apr 18, 2024 10:53 JST
All-New Triton Confirmed as First Double-Cab Pickup Truck to Achieve 2024 Five-Star ANCAP Safety Rating
Apr 18, 2024 09:22 JST
Eisai's Antiepileptic Drug Fycompa Injection Formulation Launched In Japan
Apr 17, 2024 16:17 JST
Honda Unveils Next-generation EV Series for China
Apr 17, 2024 12:15 JST
More Latest Release >>
Related Release
Yuexiu REIT's Revenue Up by 11.4% for 2023
March 07 2024 20:13 JST
Yuexiu REIT Demonstrates Asset Resilience, High-Quality Assets Enhance Defensiveness, Strong Fundamentals Foster Long-Term Value
August 15 2023 18:05 JST
Yuexiu REIT Wins the Best ESG (Social) Award at 9th Investor Relations Awards
June 30 2023 09:59 JST
Revenue of Yuexiu REIT in 2022 Up 4.2%
March 10 2023 08:30 JST
Yuexiu REIT Proposes to Acquire Landmark Building Yuexiu Financial Tower in the Core District of Guangzhou Zhu Jiang New Town CBD
November 15 2021 08:05 JST
Yuexiu REIT Proposes to Acquire Yuexiu Financial Tower
October 26 2021 08:45 JST
More Press release >>