CYPA has teamed up with China Commercial Bank to establish an apartment REIT in China. (Photo: CYPA)

China Construction Bank (CCB) and China Young Professionals Apartments (CYPA) have teamed up to establish a fund that will be used to acquire residential properties, with a view of establishing a residential REIT.

The Shenzhen-based fund, which features an initial size of RMB2 billion (USD316 million), will focus on the acquisition of properties in China, and the REIT to be established will be known as China Apartment REIT.

CYPA is the founder of China’s first residential quasi-REIT.

Read: Founder of China’s first residential quasi-REIT eyes properties in USA, Europe

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.