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Fosun International is moving ahead with plans to list its luxury resort Atlantis Sanya as a real estate investment trust (REIT) on the Shanghai Stock Exchange. The move comes as part of the group's broader effort to manage its rising debt, which reached RMB 222.10 billion as of mid-2025. The listing will depend on regulatory approvals, while a waiver from the Hong Kong Stock Exchange has already eased procedural requirements. The company is also preparing to announce its annual results shortly.
Fosun International has confirmed plans to spin off its luxury hospitality asset, Atlantis Sanya, and list it on the Shanghai Stock Exchange as a real estate investment trust (REIT). The move is part of the company'
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s ongoing financial strategy to restructure and manage its liabilities while unlocking value from premium real estate assets.
The development follows earlier reports from 2024, when sources indicated that Fosun was exploring the possibility of selling a partial or full stake in the resort. At the time, the company was actively looking at ways to reduce its financial burden through asset monetisation. The latest plan reflects a shift from outright sale to a structured listing route, which allows the company to retain some exposure while raising capital.
Financial disclosures showed that Fosun's total debt stood at RMB 222.10 billion as of the first half of 2025, marking an increase compared to the end of 2024. This rise in debt has kept pressure on the group to adopt alternative financing and deleveraging strategies. The REIT structure is being positioned as a way to generate stable income streams while improving balance sheet visibility.
Fosun has stated that Atlantis Sanya will serve as the underlying asset for the proposed REIT, which will be categorised under China's commercial property REIT framework. This aligns with broader regulatory efforts in China to expand REIT offerings and improve liquidity in the real estate sector, especially for income-generating assets such as hotels and commercial properties.
In a regulatory update, the company indicated that the Hong Kong Stock Exchange had granted a waiver allowing the spin-off to proceed without offering assured entitlement of REIT units to existing shareholders. Typically, such entitlements are part of listing norms, but the exemption provides Fosun with more flexibility in structuring the offering.
The proposed listing is still subject to approvals from the China Securities Regulatory Commission and the Shanghai Stock Exchange. These approvals will be key to determining the timeline and final structure of the REIT.
Separately, Fosun's board is scheduled to meet on March 30 to announce its financial results for the year ended December 31, 2025. The outcome of this meeting is expected to provide further clarity on the group's financial position and future strategy, including updates related to the REIT listing.
Source Reuters
5th Jun, 2025
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