According to a survey of the Asia Pacific Real Estate Association (APREA) in the business forecast 2021, REAL ESTATE investment trusts (REITs) may be “at the forehead of a transformation of the [real estate] sector.”
“No question, the middle of the post-pandemic town would be improved houses. Asset owners and tenants would have to take constructive steps to reinvigorate the multi- million dollar savings of shoppers and office staff,” says APREA in their study.
APREA said that REITs are giving a chance to the Asia-Pacific real estate sector, as “the developing markets in the area would certainly support them.”
APREA Chief Executive Officer Sigrid Zialcita said at an online briefing on Tuesday that “We expect the Asia-Pacific market to increase from its current market cap of $300 billion to at least $3 billion once the China and India REIT markets are created.”
APREA noted that, this year with the inclusion of a listing and several more in the pipeline, the Philippines identified its first REIT “on pandemic level last year.”
The BPO sector is considered a catalyst for industry by the region.
“The first REIT in the Philippines was established if you look at REITs. This fund is mostly on the office side like many fast-growing markets and the pattern is really that of the BPO sector if you look at the asset itself,” Zialcita said.