Wealthy Asian families have abundant dry powder but are largely holding fire on investments. Property, for instance, is expected to fall further, but Reit opportunities look to be emerging.
South and Southeast Asia's infrastructure needs have prompted the central bank to act as a conduit for investment, partly by overseeing the creation of new investment vehicles.
The largest REITs manager in the US, Cohen & Steers is focused increasingly on Asia as it taps into the region’s growing private wealth sector. In recognition of its global focus and consistently outstanding results, this dynamic company also recently won AsianInvestor’s 2019 Real Estate Investment Trusts (REITs) award.
Poba had no Reit investments last year but has invested close to $80 million so far this year. The Asian Investment Summit also heard how governance issues are rising up the agenda.
China and India may see their first real estate investment trusts launched this year, but some are sceptical about the growth prospects for Asia’s Reit sector.
Long-term investors are increasingly looking at private Reits for diversification purposes and stable yields, delegates at AsianInvestor’s 7th Japan Institutional Investment Forum heard.