Sasseur REIT subsidiary faces legal action in Chinese court

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A wholly-owned subsidiary of Sassuer REIT is currently facing legal action in the Anhui Higher People's Court over construction costs.

The subsidiary, Hefei Sasseur Commercial Management Co Ltd, received notice on 13 September that Zhongjian Sanju No.2 Construction Engineering Co Ltd is claiming a sum of approximately RMB148.4 million (USD22 million), and other legal costs.

The claims arose out of a disagreement between the REIT’s sponsor, and Zhongjian Sanju No.2 over the final construction sum payable for Sasseur (Hefei) Outlets, which was completed in May 2016.

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