Acquisition, IPO activities unlikely to recover to pre-slump levels in near future
Most Asian real estate investment trusts (Reits) have survived the economic storm in the first half of the year, but challenges – from reducing gearing to growing distributions – still lie ahead, says CB Richard Ellis (CBRE).
The market capitalisation of Asian Reits rose 14.3 per cent in H1 2009, according to the property consultancy in a report yesterday.
In Singapore, the FTSE Reit Index has jumped more than 35 per cent from January, gaining 7.34 points yesterday to close at 503.39. ‘General improvement in the credit market, government support for the re- financing of J-Reits (Japan Reits) and successful rights issues for S-Reits (Singapore Reits) have substantially enhanced Reits around the region,’ says CBRE Research Asia executive director Andrew Ness.
Many large-cap Asian Reits managed to grow their rental income recently, CBRE notes. In Singapore, several S-Reits have also met or Continue reading
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