REITS to come to Hong Kong

The SFC has released a draft Code on Real Estate Investment Trusts.

Following the success of REITs in other markets such as the US, Australia and Singapore, the Hong Kong regulator has released a draft code for public consultation. The consultation will last one month with a finalised code being released in the second quarter. The first approved REITs should appear some time in the third or fourth quarter according to the SFC. The code will be independent and not be merged with the unit trust code as was done recently with the code for hedge funds.

Alexa Lam, executive director of intermediaries and investment products at the SFC, says the code has been released in response to market demand...

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