For the next edition of REITspots, we head to China, Chongqing, also known as the 'cyberpunk city'. Other than the stunning city lights, on the outskirts of this city are 2 Sasseur REIT Outlet Malls for locals and tourists to go on a shopping spree. I had the pleasure of having Ms Cecilia Tan, CEO of Sasseur REIT to accompany us on this visit, with exclusive looks into 2 of Sasseur REIT's 4 properties, Chongqing Bishan and Chongqing Liangjiang Outlets.
Source: reitsavvy.com - Sasseur REIT's financial ratios
Check out Sasseur REIT's latest overview report at here.
| Overview |
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Sasseur REIT is the first outlet REIT listed in Asia, with four outlets in China in its portfolio. Its investment mandate is to invest, directly or indirectly, in a diversified portfolio of income-producing real estate which is used primarily for retail outlet mall purposes, as well as real estate related assets in connection with the foregoing purposes, with an initial focus on Asia. Sasseur Group, the sponsor of Sasseur REIT, is a major player in Asia’s outlet mall scene, with 30 years of experience and a unique blend of art and commerce driving its success. It was the first to launch an outlet mall REIT in Asia, listed on the SGX, and operates 22 large-scale outlets across China. With over RMB 21 billion in annual sales and millions of VIP members, Sasseur plays a key role in shaping the outlet industry. Backed by international capital, the group is working toward becoming the world’s leading outlet mall brand. Chongqing Bishan |
| Chongqing Bishan |
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"Sasseur (Chongqing Bishan) Outlet offers a diverse shopping and dining experience catering to the needs of the surrounding populace. It was designed to be a one-stop shopping destination in the Bishan and West Chongqing areas, combining retail shopping with entertainment, food, education and leisure." Our first stop was Chongqing Bishan Outlets. Although it was a Friday morning, most of the shop units were already open, with only a few vacant lots. Compared to conventional outlet malls, Sasseur REIT’s outlet had more of a shopping mall like atmosphere. The focus seemed to be on creating an experience beyond just shopping, with posters showcasing events and a strawberry farm located within the mall compound. We also learnt that Chongqing Bishan is the smaller outlet compared to Chongqing Liangjiang, although it still boasts 200+ tenants. Chongqing Bishan is located in the area of Bishan, which is about an hour's drive away from Chongqing. A group of visitors from Financial Alliance, one of the largest financial advisory firms from Singapore. A variety of local and international brands can be seen here. Front facade of Chongqing Bishan Restaurant at ChongQing Bishan outlets where we had our lunch. Organic Strawberry Farm, located on a hill within the outlet compound. You can pick and buy your own strawberries here (and eat fresh – no pesticides) |
| Chongqing Liangjiang |
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"Sasseur (Chongqing Liangjiang) Outlet distinguishes itself through an experiential shopping concept and targets middle- and upper-class consumers with high disposable incomes and is one of the malls in Chongqing with the strongest offering of international brands." The VIP Lounge where we were introduced to the outlet The founder’s mini museum (located in the VIP lounge for Sasseur VIP Guests) Upper Levels offer more local brands. Cecilia was showing me around. +39 Space is the Concept store for all Italian Brands (+39 is the country code for Italy) More international brands Satisfied Shoppers! Some of us bought the luggage to store our stuffs. My's damage!!! Estimated S$2,000! And I was not even the top spender! Conclusions This site visit to Sasseur REIT's outlet malls in Chongqing, China, specifically the Bishan and Liangjiang Outlets, was insightful. The visit highlighted how these outlet malls offer a diverse shopping and dining experience, aiming to be one-stop destinations that combine retail with entertainment, food, education, and leisure. It was observed that even on a Friday morning, the Chongqing Bishan outlet was active with most shops open and few vacant lots, possessing a more mall-like atmosphere than conventional outlet malls. The Chongqing Liangjiang outlet, being larger with close to 400 tenants and a more central location, was noticeably more packed in the afternoon. The Sasseur Group, as the sponsor of Sasseur REIT, demonstrates significant experience in Asia's outlet mall scene, with a focus on blending art and commerce, and aims to be a leading global outlet mall brand. The visit underscored the unique experiential shopping concepts at these properties, catering to a range of consumers with both local and international brands. |
