The Housing Authority's Supervisory Group on Divestment has agreed in principle to pursue a Real Estate Investment Trust structure for implementing its divestment plan retail and carpark facilities.

At a meeting today, the group members thoroughly examined the impact of two broad divestment structures for the facilities.

They are a Real Estate Investment Trust structure and a property company structure with Real Estate Investment Trust characteristics.

The authority said a Real Estate Investment Trust will be the optimal divestment structure because it meets the objectives for setting up a vehicle with strong corporate governance and promoting a successful divestment.

Following the decision, the Joint Global Co-ordinators will proceed along the Real Estate Investment Trust route, and maintain a close liaison with the relevant regulatory bodies on the required approvals.