Reef China Commercial Trust plans to buy office buildings in Chinese mainland's major cities and in Hong Kong and Macau to boost future earnings.

The real estate investment trust may buy properties in first-tier cities in China including Beijing, Shanghai and Guangzhou and may further expand into second-tier cities, Executive Director Paul Keogh said yesterday via video link from London. The properties will be premium A and B grades, he said. Thefirm is raising as much as HK$2.6 billion (US$333 million) in its initial public offering in Hong Kong to buy Beijing Gateway Plaza.