華泰證券:看好2025年商業地產板塊的投資機會
華泰證券指出,2024年商業地產面臨挑戰,但頭部企業無論從規模擴張還是運營效能均有超行業表現。看好2025年商業地產板塊的投資機會,主要基於如下幾點原因:1)政策催化下消費市場有望持續復甦,賦予商業地產更堅實的終端市場土壤;2)消費REITs推動運營商實現資產變現+流動性和管理溢價+輕資產運營空間延展;3)頭部運營商的管理相對優勢持續提升,強化α屬性,繼續演繹集中度提升邏輯;4)估值優勢凸顯,持有物業板塊估值已基本與市值相當,部分重資產運營商開發業務板塊的市值已經低於持有物業板塊的合理估值,進一步強化企業投資價值。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.