Ⅰ.Shanghai Land Group Introduction​

-​Shanghai Land Group is a state-owned sole-proprietorship functional guarantee enterprise approved by the Shanghai Municipal Government, with total assets exceeding RMB 420 billion. The group's business covers urban renewal, old district renovation, affordable housing construction, ecological governance, and sci-tech park operations.​ The group's "Chengfang" brand serves as Shanghai's leading rental housing operations platform, having cumulatively managed over 40,000 rental units covering affordable rental housing, public rental housing, and market-rate rental housing.​ ​

Ⅱ.Shanghai Land Rental Housing REIT Introduction​

-Shanghai Land Residential Development Co., Ltd. (a wholly-owned subsidiary of Shanghai Land Group specializing in rental housing, abbreviated as "Shanghai Faze") serves as the original equity holder.​
-Shanghai Land Rental Housing REIT listed on the Shanghai Stock Exchange on March 31, 2025.​
-Underlying assets are two affordable rental housing projects — Hongqiao Huanzhi and Jiangyue Road (1,398 units, occupancy rate exceeding 92%).​
-Issuance size of RMB 1.362 billion; market value as of February 2026 approximately RMB 1.8 billion; annualized distribution rate of 3.70% (based on market value).​ ​

Ⅲ.Background / Client Needs​

Following REIT listing, the original equity holder enters a new phase of [hold-and-operate + asset recycling]​ Needs to build out a [replicable asset operations system] (multiple projects / multiple products / multiple teams)​ Simultaneously launching [acquisition capability building] to form a scalable and injectable asset pool pipeline​ ​

Ⅳ.F.O.G's Role​

-Asset management system consultant + acquisition advisory (original equity holder side)​
-Cooperation focus: following the first REIT listing, this case centers on building the original equity holder's asset-side management system and investment mechanisms, as well as scale-up support​ ​

REITs Platform-Based "Asset Management + Capital Dual-Engine Drive" Model​