China has expanded the asset scope of its infrastructure real estate investment trust (REIT) program to include Grade-A office buildings and urban renewal projects, reports Caixin.
The National Development and Reform Commission (NDRC) released the 2025 eligibility list on Monday, adding the two new categories and lifting the total number of qualified sectors to 15. The expansion supports Beijing’s efforts to broaden the range of infrastructure projects eligible for REIT financing. REITs allow income-generating infrastructure assets to be packaged into tradable units.
Eligible office assets are limited to super-Grade-A and Grade-A office buildings in certain major cities, while urban renewal projects include the redevelopment of aging neighbourhoods, old industrial zones and mixed-use facilities.