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

China Property Management Sector: Navigating Turbulence for Investment Opportunities

Asia Monetary Easing: Tailored for Income-Generating Real Estate

COLI (688 HK): The Best Beta Play for China

KT Capital Group

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

Principal investments and advisory firm

Equity Bottom-Up

China Resources Mixc Lifestyle Services / Equity Bottom-Up

China Resources Mixc Lifestyle Services (1209 HK)

<ul>
<li>For 2026 China plays, we find stocks that provide RE exposure but with lowest risk.  PM companies are ideal as they are asset light and carry net cash</li>
<li>China’s 15th Five-Year plan focuses on consumption-led growth, we think this will directly benefit CR’s retail mall portfolio in the medium term</li>
<li>We think CR MixC provides investors with exposure in both China consumption story as well as real estate recovery</li>
</ul>


For 2026 China plays, we find stocks that provide RE exposure but with lowest risk.  PM companies are ideal as they are asset light and carry net cash
China’s 15th Five-Year plan focuses on consumption-led growth, we think this will directly benefit CR’s retail mall portfolio in the medium term
We think CR MixC provides investors with exposure in both China consumption story as well as real estate recovery


Safe Exposure to China Real Estate - Property Management - LONG China Resources Mixc Lifestyle