Recently, Shenzhen United Property And Equity Exchange announced its annual honors, awarding CR SZITIC Trust Co., Ltd. the "2023 Value Creation Leadership Award."
In August 2023, bolstered by the robust support from both central and local shareholders, including CR Group and CR Capital MGMT, CR SZITIC Trust's 49% stake in SZITIC Commercial Property Co., Ltd. was successfully listed and transacted on the Shenzhen United Property And Equity Exchange.
Founded in May 2004, SZITIC Commercial Property faced challenges in exiting the project due to limitations such as restricted land use and transfer constraints. Adhering to CR Capital MGMT's unified post-investment management requirements, CR SZITIC Trust proactively managed post-investment tasks for historic projects like SZITIC Commercial Property. Overcoming numerous obstacles with relentless efforts, they successfully exited the SZITIC Commercial Property project, achieving an IRR of 11%.
The successful exit of SZITIC Commercial Property not only directly supported Shenzhen's government initiatives of “industry’s going upstairs” and “logistics’ going upstairs” but also effectively propelled CR SZITIC Trust's implementation of CR Group's "1246 model." In the future, CR SZITIC Trust will fully utilize the resource advantages of both central and local shareholders, optimize collaborative mechanisms, and better contribute to the nation's major regional development strategies, taking regional coordinated development to the next level.
