REITs – a globally emerging asset class with a market cap of more than US$600 billion. Rapid expansion in Asia market capitalization of more than US$48 billion and increasing. Tax efficiency of REITS makes it attractive. A key incentive for foreign investment- is low witholding tax. More than 60 REITs in Asia. Rapid growth of property funds as “incubators” for potential REITs. Globally, Pension Funds seeking stable returns in REITS.

1 year REIT Capitalisation growth largest in Singapore at 116% and lowest in Korea at -18%. Reit expansion in Asia fueling worldwide growth in REITs. Competition for localized performance grade assets becoming difficult. This is resulting in cross-border or possible REIT mergers. Singapore launches Business Trusts –this will compete for capital against REITS – higher yields.