I believe the considerations mentioned by Mr. Poschmann are relevant. It has also been noted that real estate investment trusts have largely obtained recognition internationally. The government of the day made changes explicitly for the purpose of facilitating real estate investment trusts in 1994, I believe. Together with the international norm that seemed to be developing and entrenching itself, that led to the decision to not apply the proposals to that sector.
On February 13th, 2007. See this statement in context.