An article in the South China Morning Post quoted the Tianjin Mayor, Dai Xianglong, as saying he has applied to the government to establish a pilot program of a REIT sale. The proposal is at a very early stage, the newspaper said, citing Daniel Yin, the CB Richard Ellis managing director for Tianjin. A REIT sale will attract capital and investment in the Binhai New Area, a massive economic development zone being built in Tianjin, and is expected to be a platform for technological and financial pilot projects.

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