Asia REIT market value grows 18% driven by China and India

The Asia Real Estate Investment Trust (REIT) market grew 18% between 2024 and early 2026, reaching a combined market value of US$279.4 billion. According to Cushman & Wakefield, the Chinese mainland and India have emerged as primary drivers of this regional expansion.

In the Chinese mainland, 21 of the 27 new REIT listings in Asia were contributed between late 2024 and March 2026. This growth is supported by a commercial real estate REIT pilot program launched in late 2025, which expanded eligible assets to include offices, shopping malls, hotels, and mixed-use properties.

Simultaneously, India has seen significant improvements in market transparency, rising to 26th globally in the JLL Global Real Estate Transparency Index (GRETI) 2026. India was noted as one of the top five most-improved markets worldwide and the leading improver in the Asia Pacific region. This transparency coincides with high investment activity, with private equity investment reaching US$10.5 billion in 2025.