THE real estate investment trust (Reit) market in Singapore started 20 years ago this week. And it has since experienced explosive growth to become the largest Reit and property trust market in Asia outside Japan.

One of the key reasons for this, market watchers said, has been the “global orientation” of Singapore-listed real estate investment trusts (S-Reits).

“The S-Reit market grew well initially with mainly domestic local assets. It then exploded, in terms of market capitalisation, after S-Reits were promoted as cross-border assets,” said Gabriel Yap, chairman of investment firm GCP Global.