Expiring tax break may keep new Reits away

Singapore

THE number of new S-Reit (Singapore real estate investment trust) listings next year could be affected if a tax break for income from assets held abroad by these trusts is allowed to lapse in 2015.

This comes as Singapore remains the largest Reit market in Asia excluding Japan, with two trusts - Accordia Golf Trust and IReit Global - raising money via initial public offerings (IPOs) this year through assets held in Japan and Germany, data from Deloitte on Monday showed.

Real estate listings also dominated the IPO charts this year again, with 25 per cent of them- or six companies - as at Nov 27 l…