S-Reits set for wave of consolidation: CIT chief

Singapore

SINGAPORE'S real estate investment trust (Reit) market is set to consolidate as smaller vehicles merge to cope with rising regulatory costs, according to Cambridge Industrial Trust (CIT).

"The wave of consolidation for Singapore Reits is about to begin," Philip Levinson, chief executive officer at Singapore-listed CIT, said. The trust has a market capitalisation of S$730.5 million and focuses on industrial real estate assets.