REIT Outlook 2021 and Beyond
Although Singapore’s REIT market is one of the world’s youngest across major REIT markets, it is Asia Pacific’s fastest growing REIT platform, starting from the first REIT listing on the SGX in 2002 (CapitaLand Mall Trust’s portfolio of 3 local malls with AUM of about S$900 million). By 2010 there were 22 S-REITs at a market cap of S$35 billion.
Today Singapore is home to over 40 REITs & Property Trusts with a combined market cap of over S$100 billion. Over a nine year period the Singapore REIT (S-REIT) market cap increased by 220% since 2010 compared to just 133% for the developed APAC REIT market over the same period. S-REITs have grown at a CAGR of approximately 15% over the past 10 years.
There has also been growing global investor interest in S-REITs, due in part to the fact that the size and liquidity of the cluster has grown tremendously in recent years. Global institutional investors such as asset management firms, sovereign wealth funds, insurance/lifers, private banks, family offices are actively participating in S-REITs.
With valuable support and input from Singapore Exchange (SGX), Clifford Chance Singapore and REIT Association of Singapore, our white paper explores the dynamics and future developments of this global REIT hub, highlighting recent consolidations, regulations and ESG requirements. Download now to find out more.