Source: Sasseur REIT homepage
Retail Sales have hit a record high during the first-day sales of its 2019 anniversary season
Sasseur REIT has outperformed its projections during IPO for the fifth consecutive quarter
The REIT is trading at 8.1%
Source: Sasseur REIT Press Release
Sasseur REIT (SGX: CRPU) has once again kick-started its annual sales, which will last for two weeks in September. On the first day, its four outlets in Chongqing, Bishan, Hefei and Kunming have exceeded its last year sales by 8.9% with a total sale value of RMB 215.6m. More than 1 million VIP members will enjoy an additional discount on to of the sale prices during this event. Besides, the outlet in Chongqing also offers an 11% tax rebate to tourists who purchase more than RMB500.
Worth to mention, Sasseur REIT has the right-of-first-refusal on two properties, which achieved a 27.7% growth in sale values during the first-day sales. This may potentially drive growth for the REIT in the future.
The REIT is currently trading at 8.1% yield and 0.79 times price-to-book ratio.
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