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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.

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$68 billion. Life is like a box of chocolates, you never know what you will get.

How do you build a S$68 billion real estate market in 12 years, on an island that measures 50 km from east to west? By swimming out of our 193 km shoreline.

There are now 39 property trusts in Singapore, since CapitaMall Trust led the way in 2002. After Japan, Singapore is now the second largest Reit market in Asia, and twice...

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