Real estate investment trust

"As existing markets expand and REIT-like structures are introduced in more countries, we expect to see the overall market grow by some ten percent per annum over the next five years, taking the market to $1 trillion by 2010."

"This transaction is truly a win-win. It helps maintain affordability in the assets, and, at the same time, the proceeds generated from the transaction strengthen the REIT's position to further increase housing supply across the country as we invest in our existing portfolio and new purpose-built rental developments."