(For more retail coverage, click GlobeSt.com/RETAIL.)
HONG KONG-Henderson Land Development has shelved plans to launcha HK$3.9-billion ($500-million) real estate investment trust in thenext month. In a statement, the developer says the offering andlisting of its proposed Sunlight Real Estate Investment Trust "arenot expected to take place by July 15" as it had previouslyannounced.
"We are still studying the REIT listing plan and hope to makeit," a spokeswoman for the company says. "But the timetable dependsvery much on market conditions." Company executives explain thatthey are still waiting on a decision from the board. There is noguarantee that the REIT may fly at all.
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