Widespread macroeconomic and political uncertainty has everyone guessing what cyclical changes we will see in Asia Pacific’s real estate markets for the rest of 2019 and beyond. Landmark deals over the past two years, however, indicate major real estate players continue to remain positive on the region’s growth.

Still, what is sorely missing is the presence of an operational REIT framework in some of the region’s fast-growing economies. Even so, we are excited by recent developments and, while the timeline is uncertain for some, there is cause to remain sanguine as some of the region’s top REIT markets were only forged in the past decade.

India

This year marks a milestone for India’s real estate industry, with the start of trading in its first REIT. The Embassy Office Parks REIT, backed by Blackstone and Bengaluru, India–based developer Embassy Group, was 2.6 times oversubscribed at its US$690 million initial public offering. This jo