Of different shares of trust

IT trades like a real estate investment trust (Reit), and often emulates its characteristics, but business trusts (BTs), sometimes loosely labelled the "poorer cousin" of Reits, operate very differently from Reits.

Broadly speaking, the key differentiating factors between Reits and BTs lie in their development restriction, gearing limit, and minimum distribution payout.

Taking development restriction as an example, Reits have a deve…