GLP Park Baoshan Yuepu, Shanghai, China, a possible asset in the initial portfolio of GLP New Economy REIT. (Photo: GLP)

Global real estate firm GLP has begun a process to list a REIT on the Singapore Exchange (SGX) and it will be known as the GLP New Economy REIT.

The REIT will have an initial portfolio of 12 assets across China, REITsWeek has been informed by sources close to the listing process.

These initial assets in the GLP New Economy REIT portfolio will collectively feature a net lettable area (NLA) of about 1.4 million square metres with aggregate weighted average lease expiry (WALE) at 2 years.

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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.