HSBC feels that the number of real estate investment trusts (REITs) in Asia to increase in the next three to four years due to demand for more risk-averse property investments, a senior executive said. Asia is witnessing increased activity in the REIT IPO market this year, with the successful listing of Cache Logistics Trust in Singapore, while Sunway City plans to list its REIT in Malaysia in July. "I see proliferation of REITs, absolutely. I think we'll have twice as many REITs in Asia as we do today in the next three or four years," Mr Jason Kern, managing director and head of real estate advisory for Asia Pacific at HSBC, said. 17 June 2010 moneycontrol.com
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