China Real Estate Opportunities (Creo) edged closer to a listing on the Singapore exchange yesterday as it confirmed it had received approval for a conditional “eligibility to list” application.

The company must seek the agreement of its shareholders and alter its corporate structure to Treasury China Trust, the new parent of the group.

Creo will also pay a dividend for the first time. “TCT will position itself as a total return vehicle providing shareholder returns on a consistent basis sourced from net rental income, profits on strategic disposals and capital growth,” the firm said in a statement.