REITs / 2003 6 5 121 9 212 35 REITs REITs Real Estate Investment Trusts REITs REITs 90% REITs REITs REITs REITs REITs REITs MBS REITs REITs REITs REITs 90% REITs REITs REITs / REITs 1 1399 21 E1 200040; : 0086-21-6289 3186 : 0086-21-6289 1545 : Enquiry@fontainburg.com; : http://www.fontainburg.com
REITs 2002 10 2004 31 83 122 1.47 REITs 1 REITs REITs 200 REITs 20 ~30 2 2~3 20 5%~7% REITs REITs 1965 REITs REITs1969 REITs 90 REITs 2000 REITs 20012002 REITs2003 REITs 2 REITs 2 1399 21 E1 200040; : 0086-21-6289 3186 : 0086-21-6289 1545 : Enquiry@fontainburg.com; : http://www.fontainburg.com
REITs REITs REITs 1961 1965 197 3,500 1995 SICAFI 2003 SIIC 1994 FII 1957/2002 KAGG 1994 REIF REIC 1969 204 700 2001 7 6 2000 2001 21 210 1999 20012002 6 43 2002 2003 2005 0 / 2005 6 REITs 6 REITs 40 REITs 1998 7 REITs MAS 1999 5 Guidelines for Property Funds in Singapore 2001 Securities and Futures Act 2001 REITs 2002 Code on Collective Investment REITs REITs 2002 7 CapitaMall Trust 2 9 3 1399 21 E1 200040; : 0086-21-6289 3186 : 0086-21-6289 1545 : Enquiry@fontainburg.com; : http://www.fontainburg.com
3 REITs % 05/08 05/08 02 / 07 4 4%~5% 14 7.5 CapitaMall Trust (CapitaMall Trust) Mgt Ltd 02 / 11 51 /4%~5% 13 15 Ascendas-MGM (Ascendas REIT) MGIM Funds Mgt Ltd. 03 / 08 11 5%~6% 5.4 6.4 ARA Asset (Fortune REIT) Mgt (Singapore) 04 / 05 8 4%~4.5% 12 7.9 CapitaCommercial (CapitaCommercial Trust) Ltd. Trust Mgt Ltd. 04 / 12 13 /5%~6% 13 4.3 ARA Trust Mgt (Suntec REIT) (Suntec) Ltd. 05 / 07 15 6%~6.5% 2.6 1.8 Mapletree Logistics (Mapletree Logistics Trust) Trust Mgt Ltd. REITs 16 2002 4 15 1 18.00 16.00 14.00 0.13 1 0.39 1 0.42 1 1.63 1 12.00 10.00 8.00 6.00 4.00 2.00-0.21 1 0.49 3 0.47 2 0.850.39 2 1 7.8 1 0.29 2 11 1 3 5 7 9 11 1 3 5 7 9 11 1 3 5 7 2003 2004 2005 0.11 1 1.98 3 1.17 5 0.33 1.35 1 1 4 1399 21 E1 200040; : 0086-21-6289 3186 : 0086-21-6289 1545 : Enquiry@fontainburg.com; : http://www.fontainburg.com
REITs 2003 37 2003730 2004114 200312 REITs TheLink 180 309 90 219 2004126 19.7 207 213 REITs 10.5110.83 6.9% 90 9 cornerstone investor AIA PrudentialING 10 21.5 2800 130 191.5 3120 16 20041220 20057 11 20050330 6 4 REITs REITs REITs 2 90% 90% 90%REITs 90%REITs (%) 45% 35% REITs 5 1399 21 E1 200040; : 0086-21-6289 3186 : 0086-21-6289 1545 : Enquiry@fontainburg.com; : http://www.fontainburg.com
REITs 2REITs REITs REITs REITs REITs REITs REITs REITs REITs REITs REITs REITs REITs REITs REITs RETIs REITs 6 1399 21 E1 200040; : 0086-21-6289 3186 : 0086-21-6289 1545 : Enquiry@fontainburg.com; : http://www.fontainburg.com
REITs REITs REITs REITs REITs REITs REITs REITs REITs REITs REITs REITs REITs REITs REITs REITs 7 1399 21 E1 200040; : 0086-21-6289 3186 : 0086-21-6289 1545 : Enquiry@fontainburg.com; : http://www.fontainburg.com
REITs REITs REITs REITs REITs Income Return 4%~6% REITs 5%~7% 3 REITs % 12 10 8 6 4 2 0 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 www.nareit.com 1 = /REITs 2 REITs REITs REITs REITs REITs REITs 1999 REITs 2002 REITs 2004 REITs REITs 8 1399 21 E1 200040; : 0086-21-6289 3186 : 0086-21-6289 1545 : Enquiry@fontainburg.com; : http://www.fontainburg.com
REITs REITs REITs REITs REITs REITs REITs REITs REITs 2005815 2004 2004 228.2 34.2% 1.3% 62% 2006 2007 8 4700 6837 120 2004 2004 60 12 9 1399 21 E1 200040; : 0086-21-6289 3186 : 0086-21-6289 1545 : Enquiry@fontainburg.com; : http://www.fontainburg.com
5 20041 N.A. 200412 5 20051 9800 20054 1.07 20056 20059 8.46 9000 6 20051 20052 20052 20054 20054 17.46 4500 18.37 A B 3000 D N.A. E REITs 2005616 REITs REITs 11 REITs 10 1399 21 E1 200040; : 0086-21-6289 3186 : 0086-21-6289 1545 : Enquiry@fontainburg.com; : http://www.fontainburg.com
REITs REITs REITs 2003 8 Fortune REIT REITs REITs REITs REITs REITs REITs REITs REITs REITs REITs REITs REITs REITs REITs 11 1399 21 E1 200040; : 0086-21-6289 3186 : 0086-21-6289 1545 : Enquiry@fontainburg.com; : http://www.fontainburg.com
REITs REITs 2005 REITs ARA REITs REITs 7 15 65 50 REITs 2005823 REITs 40% 80 REITs (0123.HK) REITs 60 20 REITs REITs 12 1399 21 E1 200040; : 0086-21-6289 3186 : 0086-21-6289 1545 : Enquiry@fontainburg.com; : http://www.fontainburg.com
REITs REITs REITs REITs REITs REITs REITs REITs 13 1399 21 E1 200040; : 0086-21-6289 3186 : 0086-21-6289 1545 : Enquiry@fontainburg.com; : http://www.fontainburg.com