Listed Real Estate Asia, KT Capital Group

Jacob Cheng

Jacob has 7 years of professional buy-side experience in real estate investment and listed equities.  Jacob worked as a portfolio manager/analyst in Global Listed Real Estate team in AMP Capital and Macquarie Asset Management.  Prior to that, Jacob has spent 5 years in APG asset management, in the listed real estate team.  As one of the largest RE funds in Asia, he co-managed EUR6bn investment portfolio with the team with a focus on Hong Kong and China property.  He led the USD200m cornerstone investment in Wanda Commercial Properties IPO (the largest mall operator and developer in China).  Prior to this, Jacob has 3 years of experience in investment banking in Bank of America Merrill Lynch, covering equity, debt and M&A transactions across real estate, consumer& retail and TMT sectors.  Jacob specializes in fundamental bottom up research.  Aside from work, Jacob has a personal interest in spirituality and personal development.  He practiced meditation and has published a book about meaning of life in 2016.

Listed Real Estate Asia

Asia Monetary Easing: Tailored for Income-Generating Real Estate

China Prop Short Note: Turning Bullish on “lower Rates for Longer” & Improving Sector Fundamentals

CR Land 1109 HK: Another SOE Play on China Prop – Dual Growth Engine from DP and IP Mall Business

Short Note: China Property – Guangzhou/Shenzhen/Shanghai Loosen the Property Sector – Buy Now!

KT Capital Group

Principal investments and advisory firm that focuses on connecting the CIS countries with East Asia.

Principal investments and advisory firm

Thematic (Sector/Industry)

China Real estate / Thematic (Sector/Industry)

<ul>
<li>China's C-REIT expansion unlocks massive liquidity, allowing heavy-asset developers to monetize illiquid retail properties and drastically de-lever balance sheets.</li>
<li>CR Land is the sector gold standard, targeting a CNY 60 bn public REIT portfolio and pivoting to generate over 50% profit from recurring income.</li>
<li>A compelling yield spread between 5% C-REIT distributions and 1.70% government bonds drives institutional capital inflows, triggering a profound equity re-rating.</li>
</ul>


China's C-REIT expansion unlocks massive liquidity, allowing heavy-asset developers to monetize illiquid retail properties and drastically de-lever balance sheets.
CR Land is the sector gold standard, targeting a CNY 60 bn public REIT portfolio and pivoting to generate over 50% profit from recurring income.
A compelling yield spread between 5% C-REIT distributions and 1.70% government bonds drives institutional capital inflows, triggering a profound equity re-rating.


CR Land & The C-REIT Gold Rush: Monetizing Malls for Massive Re-Rating