Hong Kong's Link Reit looks to brush up its image 10 years on from controversial stock listing

A decade on from the controversial listing of Link Reit on the local stock market, the company's chief executive George Hongchoy has his sights set on expanding its mainland business and repositioning its local brand image.

Hong Kong's first real estate investment trust was derided as a "bloodsucker" 10 years ago when it took over the running of retail and parking facilities at local public housing estates with the privatisation of assets operated by the Housing Authority.

This central position serving the everyday needs of the city's grass-roots communities meant privatisation and the lucrative listing on the stock exchange was mired in protest, with public housing tenants worried the sell-off would lead to rising rents, higher prices in shops and a dominance of chain stores.

Since its bumpy start the trust has gradually diversified its investments, this year striking three landmark deals to expand its property portfolio.

For the first time it took part in a government land tender and won a large commercial site in Kwun Tong in a joint venture with Nan Fung Development, surprising market watchers.