ARA Asset Management is buying a 50% stake in Dasin Retail Trust Management and approximately 5% of total units issued in the Singapore-listed trust of the same name.

Dasin is the only listed retail property trust in Singapore that provides direct exposure to the Guangdong Hong Kong Macau Greater Bay Area in southern China. The trust has a portfolio of destination, regional and suburban malls valued at RMB11.6bn (€1.48bn).

Dasin Retail Trust has a partnership with local real estate company Zhongshan Dasin Real Estate.

Alvin Loo, ARA’s head of China, said the acquisition provided ARA with immediate exposure to the region, riding on the solid post-COVID long-term fundamentals in China’s retail space, and continued rising urbanisation in Tier 3 GBA cities.

ARA Group CEO, Moses Song, said: “China is a key market for ARA, and the excellent growth prospects of the Greater Bay Area, in particular, appeal to us considerably.”

Song said that, through Zhongshan Dasin, ARA would seek to expand its footprint in this region.

The partners would jointly explore new fund products and business opportunities to establish a broader China retail platform.

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