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Beijing will start low-cost version of REITs for the direction of public renta
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Director of Beijing Municipal Construction Committee said to live in Beijing version of the REITs have already started to scale version of the REITs and Tianjin quite. Under this program, Beijing will be Government-owned low-rent housing, public rental and rental income of assets entrusted to establish a real estate trust, inter-bank bond market to finance a way to benefit certificates, financing -50 size can reach 40 billion yuan. November 26, talked about how to raise funds for construction of public rental, the Beijing Municipal Commission of Housing and Urban 隋振江 disclosed, "such as bonds, real estate, bonds, and now we have done a few pilot programs, the next step and of the financial sector sent the real estate debt. " It is reported that, according to this program, Beijing will be the government-owned low-rent housing, public rental and rental income of assets entrusted to establish a real estate trust, inter-bank bond market to finance a way to benefit certificates, raising 40 billion -50 billion to achieve dollars. This mode of operation close to the central bank in the "inter-bank bond market, real estate trust beneficiary certificates issued Management Measures" in the designated version of the inter-bank market debt REITs. This time is 隋振江 said that Beijing version of REITs has officially started, its size and Tianjin version of REITs quite. However, compared with Tianjin, Beijing is already far behind schedule. Keeping with the Beijing Construction Committee, a live "contact" the National Development Bank who told this reporter: "No company is now forming the relevant platform, and other details also no need to say, CDB will certainly be involved." According to Beijing plan, only the initial capital of platform companies need 10 billion yuan. Currently, the construction of public rental in Beijing are mainly fund capital loans and commercial loans. Starting in 2008, Beijing plans to use the trust for real estate securities and other multi-channel approach to financing. Beijing Municipal Construction Committee and the China Banking Regulatory Commission had at that time in consultation, intend to issue housing bonds, as a financial product launches. In fact, as early as November 2009, the State Council approved the Beijing, Tianjin and Shanghai as the pilot cities. And Tianjin, Shanghai and Pudong New Area in Tianjin Binhai New Area to carry out pilot programs REITs have subsequently been approved by the State Council. But Beijing is not complete pilot programs related to submitted. It is understood that the design of Beijing in the first pilot program, aimed at the commercial real estate as an investment in REITs content, but due to the policy level is more inclined to finance construction of affordable housing, Beijing had to change the pilot program. According to "Beijing public rental housing management approach", the public housing rent consists of three parts: "Government, as part of the central and municipal authorities built; encourage enterprises to build residential development on the part of the time do not sell out for rental; acquisition of part of the secondary housing for rent. " However, the current situation is that, due to lack of funds, the financing of public rental housing to become the biggest bottleneck. "Twelve Five" period, Beijing will increase the proportion of housing policy to reduce the proportion of commodity housing structure. Beijing Mayor Guo Jinlong proposed a more radical vision, "the proportion of the construction of public rental housing construction should be expanded to protect more than 60% of the scale." National Federation of Real Estate Chamber of Commerce, said Li Xiaodong, vice president of the Beijing public rental cost per square meter in 7000 yuan. Too expensive, Beijing had to ask developers to build in accordance with the proportion of public rental. In addition, according to reporters early this year, Beijing plans to rent by the public and the acquisition of 50 million square meters and Development Centre of the property, but the progress is not satisfactory. Li Xiaodong has pointed out that policy REITs run without government financial discount, profit will be relatively small, it is difficult to achieve the requirements of investors. And 11 mid-May, the National Federation of Real Estate Chamber of Commerce 聂梅生 told this reporter that said Beijing Financial Office is responsible for REITs in the gate opening no earlier than next year.
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