Alibaba Group announced plans on April 27, 2026, to spin off infrastructure assets through a real estate investment trust (REIT). The company will list the REIT on the Shenzhen Stock Exchange.
The Hong Kong Stock Exchange has granted formal approval for the proposed spin-off to proceed. The REIT assets center on Jiaxing Park, which is currently owned by two indirect wholly-owned subsidiaries.
Alibaba also secured a waiver from the Hong Kong exchange regarding shareholder obligations. This exempts the company from offering guaranteed REIT units to current shareholders because of regulatory restrictions involving PRC investors.