HK's first Reit on track

Territory''s first Reit will be offered by cash-strapped government housing provider.

The Hong Kong Housing Authority has given the clearest signal yet that its real estate investment trust, or Reit, will be listed this financial year. Victor So Hing-woh, an executive at the authority, said on Wednesday that the government body had established a company to manage the Reit and that he would be its chief executive officer.

The authority first said that it would sell off a bunch of its properties back in July 2003 and appointed a financial adviser, JPMorgan, and joint global coordinators, Goldman Sachs, HSBC and UBS, late last year. But besides a few hopeful statements there had been no clear sign that Hong Kong's debut...

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