THE Singapore Exchange has approved the listing of the OUE Commercial Real Estate Investment Trust (Reit), the firm announced yesterday.

The reit will invest mainly in commercial properties.

The property group's office and retail development, OUE Bayfront, will be one of the reit's initial assets.

OUE had previously said it will inject the 50-year leasehold Lippo Plaza in Shanghai into the reit.

OUE expects to hold up to 50 per cent of the units in the trust.