Wharf (Holdings) is looking at listing some of its non-core assets with the launch of a real estate investment trust (reit). Gareth Williams, a property investment director of Wheelock Properties, a sister company of Wharf, said the reit could include the company's 562,000 square foot Plaza Hollywood shopping centre in Diamond Hill and the 125,343 sq ft Fitfort mall in North Point. But he added that no timetable had been fixed as it was not one of the company's top priorities. A reit is a listed fund holding a pool of rental properties with fixed returns such as car parks, shopping centres and offices. The Securities and Futures Commission set up reit regulations two years ago and so far just one application - the US$3 billion Link Reit by the Hong Kong Housing Authority - has been approved. It is expected to list on the exchange next month. Separately, Mr Williams said the company was offloading $2 billion worth of non-core investment properties to improve returns. Assets being sold include the town houses at No1 Plantation Road.