Reit association ropes in 42 members

Singapore

THE newly minted Reit Association of Singapore (Reitas) has rounded up 42 members. They include about half the 33 Singapore Reit (S-Reit) managers, who manage more than 70 per cent of the market capitalisation of Reits here. The figures came from association president Chua Tiow Chye at the official launch of the association on Monday. Mr Chua is also Mapletree Investments group chief investment officer.

The association had met potential members over coffee in the last couple of months to convince them to join it. It held its first forum for its members on Oct 14, two business days after a consultation paper was issued by the Monetary Authority of Singapore (MAS).

Reitas CEO Sonny Tan said: "We had some 70 representatives from the members attending the session, which lasted almost three hours. The overwhelming response was encouraging, and reflects the value members saw in the association. Someone joked that perhaps the MAS should issue more consultation papers on Reits so that we could have more of…