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SINGAPORE: Property consultant CB Richard Ellis (CBRE) said Asian Real Estate Investment Trust (REITs) saw good growth in the first half of this year.
In its "REITs Around Asia" report, CBRE said total market capitalisation of Asian REITs surged by 24.7 per cent on-year to US$69 billion.
Six new REITs were also launched during the first six months of the year in what CBRE said was a dynamic period for REIT initial public offerings in Asia.
The first half saw acquisition activity by Asian REITs rebound sharply with a total of US$5.7 billion worth of deals
That surpasses the US$4.2 billion worth of deals recorded for the same period last year.
Japan remains the most active market for asset purchases.
Singaporean and Malaysian REITs, meanwhile, were active buyers of office, retail, industrial and healthcare assets.
Singapore- listed Fortune REIT also became the first Asian REIT to obtain a dual listing, following a listing in Hong Kong.
Cache Logistic Trust, which has a portfolio of six logistic properties valued at S$730 million, was also successfully launched onto the Singapore REIT market in April.
Singapore REITs' market capitalisation came in at US$21.1 billion, the second highest after Japan, with a market capitalisation of US$32 billion.
-CNA/wk
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