To remove the uncertainties arising from a legal challenge before an IPO re-launch of the Link REIT, a counter-offer has been made to the judicial review applicant with a clear condition that concerted efforts be made to close the case as soon as possible.

The Housing Authority today discussed the proposal made by lawyers representing the judicial review applicant for the authority to pay the legal cost for her appeals after her legal aid application was turned down.

Deputy Director of Housing (Corporate Services) Kenneth Mak said the authority will stand firm on the objective of achieving legal finality in the shortest timeframe possible. He said the counter-offer was made after seeking agreement with the authority's Supervisory Group on Divestment, which has considered different approaches but on balance still supports the idea of funding the legal cost of the appellant in view of the special circumstances of the case and the fact the case touched upon an issue of significant public interest.

"Achieving finality earlier will be in the public interest as the re-launch may take place sooner, hence saving extra expenditure on preparatory work and capturing the currently still favourable market conditions," Mr Mak said.

"The later the re-launch, the greater is the uncertainty in market conditions, including interest rate and investor sentiments," he said, adding it remains the authority's plan and has been working hard with its advisors to re-launch the IPO as soon as possible, but it is too early to commit to any exact timing.