Hong Kong Starts REIT Subsidy Plan

Market news —

The South China Morning Post reports on Hong Kong starting a REIT subsidy plan in the hope of catching back up with Singapore and Japan:

The government last week put into action a HK$270 million (US$35 million) plan to encourage property owners to cobble their assets together under Reits to defray their listing expenses. The Securities and Futures Commission on May 10 announced the implementation details of the subsidy plan, first unveiled during the budget in February.