REITS Around Asia 2H 2009

Asian REITs continued to recover in the second half of 2009 as the stock markets in Asia improved overall and conditions in the credit market became more relaxed. The total market capitalisation of Asian REITs rose 17.6% in the second half and 34.5% for the whole of 2009 thanks to the recovery in prices and the issuance of new shares. The market size of Asian REITs has yet to recover to pre-crisis levels, with their market capitalisation as of the end of 2009 still 17.4% lower than that recorded at year end 2007.

Second half of 2009 sees increase in refinancing and consolidation activity

The review period saw a rise in corporate activity in the Asian REIT market, mostly involving mergers and consolidation or refinancing.