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Business Times
25-07-2025
- Business
- Business Times
China Reits make ‘significant turnaround', with growth outpacing regional peers: Aprea
[SINGAPORE] Chinese real estate investment trusts, or C-Reits, have outpaced some of their regional peers, including Singapore's, in the first half of this year. The performance of C-Reits this year reflects a 'significant turnaround' for an asset class that had plunged to record lows at the start of last year amid a slowing Chinese economy and real estate sector, said the Asia Pacific Real Estate Association (Aprea). From January to June 2025, the CSI Reits Total Return Index, which tracks the total returns of C-Reits, rose 14.2 per cent, higher than the 8.5 per cent returns posted by the GPR/Aprea Composite Reit Index, which tracks real estate securities in 12 Asia-Pacific countries and territories. Its performance is in contrast to last year, when the CSI Reits Total Return Index consistently lagged behind the GPR/Aprea Composite Reit Index. When compared to individual countries, the total returns of C-Reits were also ahead of the returns in Singapore (6 per cent), Malaysia (10.8 per cent), Japan (10.1 per cent), India (10.1 per cent) and Australia (10 per cent). C-Reits also outperformed the broader Chinese market between January and June: the SSE Composite Index, the stock market index for the Shanghai Stock Exchange, posted a 2.8 per cent growth over the same period. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up Aprea, which advocates for the real estate sector in the region, said that yield-seeking investors drove the sector's growth. A rally in Chinese tech stocks due to growing interest in artificial intelligence also fuelled optimism over the expansion of digital infrastructure assets. Housing, highway and data centre C-Reits, in particular, performed well, said Sigrid Zialcita, the chief executive officer of Aprea. Affordable housing C-Reits performed strongly due to supportive government policies; highway Reits that own toll roads generate stable and long-term cash flows, appealing to investors. The upcoming listing of data centre C-Reits will generate more vibrancy in the sector, added Zialcita. She noted that data centre Reits GDS and Southern Runze Technology Data Center Reit were oversubscribed and issued at the top of their price ranges this year. C-Reits are a relatively new asset class, with the first nine Reits debuting in China just four years ago. There are now 68 C-Reits listed on China's exchanges with a market capitalisation of more than US$20 billion. Zialcita said that yields of C-Reits have grown as China's monetary authorities embark on an easing cycle. 'While this has compressed of late, investors remain conscious that their defensive characteristics make C-Reits a vital component of an investment portfolio, particularly now when uncertainty is skyrocketing,' she said. Hong Kong leads Reit returns Despite their recent performance, the total returns for C-Reits lagged those of Hong Kong (22 per cent) and the Philippines (14.6 per cent) between January and June this year. Hong Kong Reits were buoyed by their potential inclusion in China's stock connect schemes, as well as a bullish stock market. Reits in the Philippines also did well following interest rate cuts by the Philippine central bank and asset injections by Philippine Reits, Zialcita noted. Dividend yields for C-Reits were, however, behind those of regional peers. Data from Aprea indicated that the yield for C-Reits as at June 2025 was 5.4 per cent, lower than Singapore-listed Reits (6.3 per cent), Hong Kong Reits (6.7 per cent) and Malaysia Reits (5.8 per cent).
CBS News
30-01-2025
- General
- CBS News
Former Massport CEO says close calls at Logan Airport in Boston are "warning signs"
BOSTON - Video taken by a passenger on a flight leaving Reagan National Airport shows two Black Hawk helicopters flying right alongside the commercial plane. Days later, a similar scene would end in tragedy, when an American Airlines plane with 60 passengers and four crew on board collided in midair with an Army Black Hawk helicopter. "Helicopters always have to yield" Former NYPD helicopter pilot Vincent Aprea, who now flies a medical transport helicopter, says it's not unusual for military helicopters to be flying near the D.C. area airport. He told telling the I-Team, pilots of both aircraft should be talking to air traffic control. Aprea says in the sky, "helicopters always have to yield to the right of way of the airplane. Being that it's at Reagan Airport there's a lot of military activity in that area because of the White House and the Pentagon so it is not unusual to have military aircraft going through Reagan airspace." Air traffic controllers have radar to keep track of flights in the air and help redirect aircraft if they are on a collision course, assuming there is enough time. A second radar, called a traffic avoidance and collision system is in every commercial aircraft in the world. It works by sensing collisions and tells the pilot to climb or descend to avoid a crash but it only works above a 1,000 feet. "You can't rely solely on air traffic control to keep you safe," Aprea said. "Each pilot of each aircraft has to maintain their own little separate safety bubble around each other to avoid any collisions." Near midair collisions on the rise The CBS data team found near midair collisions are on the rise in the U.S. NASA's Aviation Safety Reporting System shows there were 5,066 incidents over the last twenty years from 2005 through fall of 2024. Boston's Logan had its own close call in February of 2023, when the airport's surface detection system alerted after a charter jet took off without permission as a JetBlue plan was landing. Logan has also had other incidents involving planes hitting each other on the tarmac. Tom Kinton, former Massport CEO tells the I-Team, "those are warning signs that something is wrong, and those have to be taken very seriously." Massport trains for water accidents, hoping what happened in Washington D.C. will never happen in Boston. "I'll guarantee you Boston's going to look, with the air traffic control, the FAA in Boston and they're going to look at their procedures as a result of this," Kinton said.
