The fist real estate investment trust involving Chinese property could be listed in Hong Kong by June 2005 as a result of the regulator’s recent decision to consider lifting restrictions on investment in overseas REITS, according to a report by Dow Jones.
The China REIT is said to involve up to five shopping centres located in southern China as well as a number of commercial properties from the same region.
DBS Bank Real Estate Group, which is arranging the sale, had initially planned to list the REIT in Singapore, although it added Hong Kong as a possibility after the SFC released proposals for the relaxation of geographical restrictions on investments by authorised REITS, which are currently undergoing a period of public consultation.
DBS principle Nicholas Wong revealed to Dow Jones that the $2 billion China REIT is in its final stages of preparation and is expected to go public this year, possibly as early as June.
