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The Reit market that defied the odds

Holding of properties from all over the world by Singapore property trusts means that the market has been able to grow beyond expectations.

CapitaMall Trust, which co-owns Raffles City (left), led the way for property trusts in 2002. There are now 39 property trusts in Singapore.

SEVEN years ago, a senior banker predicted that the Singapore Reit (real estate investment trust) market had reached saturation as many blue-chip real estate companies had already listed their Reits and Singapore was so small. The Reit market capitalisation then was S$24 billion. Today it is S$