Hong Kong REITs: a step closer

JPMorgan''s head of real estate banking discusses amendments to the SFC''s draft code on REITs.

The SFC has published its code on real estate investment trusts REITs, opening the way for the Hong Kong market to follow Singapore's lead. The new code includes several amendments to the draft version released this March. The consultation period that followed was initially set to last four weeks, but was extended to six at the request of market participants. In total the SFC received 52 submissions from a wide variety of professionals.

Changes to the code have been made in four main areas.

Geographical restriction to Hong Kong, an described by some in the industry as a 'deal breaker,' has been retained. According to the SFC, this...

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