As a veteran with 20+ years in markets, I’ve always believed in Peter Lynch’s golden rule: “Know what you own.” Last week, I swapped my Bloomberg terminal for a pair of hiking boots and flew to Chongqing—China’s “Mountain City”—to do just that and discover the 8D Magic city.
🌄 Why Chongqing?
This isn’t just about hotpot and misty river views. It’s a microcosm of China’s consumer economy—a battleground for retail, REITs, and property giants. Here’s what I saw (and why it matters for investors):
📸 On-the-Ground Insights
1️⃣ Capitaland’s Raffles City Chongqing
Beast of Jiefangbei: With a total investment of RMB24 billion and a total construction floor area of 1.12 million sq m, Raffles City Chongqing brings together a 235,000-sq m shopping mall, 150,000 sq m of Grade A office space, 1,400 residential apartments, Ascott Raffles City Chongqing serviced residence and InterContinental Chongqing Raffles City hotel- a masterclass in mixed-use dominance.
What I observed: Packed F&B outlets, luxury brands (Louis Vuitton), and seamless metro integration.
Why it matters: Capitaland’s "live-work-play" model is thriving here.
2️⃣ Sasseur REIT’s Liangjie Outlet
Outlet Resilience: While luxury slows post-COVID, Sasseur’s EMA model (fixed + variable rents) keeps cash flows stable.
What I observed: Mid-tier brands (Nike, New Balance, POLO SPORT) continues to attract shoppers. A hidden yield gem ?💎.
3️⃣ Wulong Karst UNESCO Site
Tourism = Economic Pulse: Crowds at Hongyadong, Three Natural Bridges/Longshuixia Gap signal revenge travel is alive.
Sector link: China Tourism Group Duty Free (CTG) and domestic-focused consumer stocks.
🧠 Investor Takeaways
- REITs with Skin in the Game: Sasseur’s sponsor (57% ownership) aligns with unitholders
- Retail Darwinism: Malls like Raffles City thrive by curating experiences (not just square footage).
- Macro Meets Micro: According to statistics bureaus of Shanghai and Chongqing, Chongqing recorded a total retail sales of consumer goods of 283 billion RMB ($39.6 billion) in January and February of this year, surpassing Shanghai's 277.740 billion RMB ($38.8 billion) for the first time and becoming the top Chinese city in terms of total consumption during the first two month—it’s domestic consumption in overdrive.
🤝 Why Follow My Journey?
I don’t just analyze spreadsheets—I walk factories, malls, and mountain trails to connect dots others miss.
🔔 Tap into:
- Weekly market snapshots
- CEO interviews (like my chat with Sasseur’s leadership).
👉 Follow me here
💬 Let’s Discuss!
- Tired of managing your own investment and need help?
Swipe 👉 for my “proof of life” at Longshuixia Gap—no green screens here!
Contact me @ ohlh@phillip.com.sg
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