Asia REIT market expansion

The Asia Real Estate Investment Trust (REIT) market experienced significant growth between 2024 and early 2026, reaching a combined value of US$279.4 billion. This expansion was primarily driven by the Chinese mainland and India.

In the Chinese mainland, a commercial real estate REIT pilot program launched in late 2025 expanded eligible assets to include offices, shopping malls, hotels, and mixed-use properties, contributing to 21 of the 27 new regional REIT listings.

India has emerged as a key driver through improved market transparency and high investment activity. Following new regulatory frameworks from the Reserve Bank of India, Embassy Office Parks REIT successfully raised ₹1,000 crore through floating-rate Non-Convertible Debentures, marking the first time a scheduled commercial bank provided financing to an Indian REIT at the trust level. Additionally, Mapletree Investments is reportedly evaluating a plan to list a portion of its Indian office portfolio through a REIT, with a potential Mumbai listing targeted for mid-to-late 2027.