HKREITA Welcomes the Extension of Government Leases Ordinance

Hong Kong REITS Association (HKREITA) welcomes the Extension of Government Leases Ordinance (the Ordinance) that came into force on 5 July 2024.

The Ordinance has addressed HKREITA’s major recommendation regarding the lengthening of the notice period for the publication of the negative list through Gazette notice. The Government has also previously addressed HKREITA’s other concerns by making clarification of what constitutes “public interest considerations” and “additional clauses” that the Government intends to incorporate in the renewed leases.

HKREITA supports the efforts being made by the Government in fostering efficient and orderly arrangement for the extension of land leases in Hong Kong. HKREITA believes that a cost-effective and simple mechanism would have a positive impact on the stable development of the property market in Hong Kong.

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About Hong Kong REITS Association (HKREITA)

HKREITA is a collaborative platform of the city's real estate investment trusts (REITs) sector. The association brings together REIT managers, industry practitioners and professionals working in the REIT sector who share the association’s vision to jointly promote the overall development of the REIT market in Hong Kong. HKREITA seeks to pool ideas and to serve as the representative voice of the REIT sector in Hong Kong, and works closely with policymakers and other stakeholders to boost Hong Kong's position in the global REIT market.

For details, please visit hkreita.com