Hong Kong – SFC Changes to Code On REITs

Hong Kong – SFC Changes to Code On REITs

On 9 June 2020, HK SFC proposed changes to the code on REITs.

  • Amend code on REITs to provide HK REITs with more flexibility in making investments.

Proposed Changes

  • Allows REITs to make investments in minority-owned properties and in property development projects in excess of the existing limit of 10% of gross asset value (GAV).
  • As well as increasing the borrowing limit for REITs from 45% to 50% of GAV.
  • Also to align requirements for REITs connected party and notifiable transactions with requirements for listed companies, in line with existing policy and practices.


  • The public is invited to submit comments until 10 August 2020.