AUSTRALIAN fund managers have been encouraged to tap the opportunities in Singapore’s real estate investment trust (Reit) market.
A recent seminar at the Sydney Opera House highlighted to Australian investors the burgeoning Singapore Reit market and the opportunities available.
The seminar was co-hosted by Australian companies Freehills, nabCapital and Trust. These companies said they are leveraging on the strong working relationship between Australia and Singapore to help Australian fund managers understand the legal and regulatory requirements and to take advantage of the opportunities provided by the Reits market in the Republic.
Keynote speakers included Singapore High Commissioner to Australia Eddie Teo, Monetary Authority of Singapore financial markets strategy executive director Kola Luu and Singapore Exchange senior director Kevin Gin.
According to Trust, the Singapore Reit market has grown around 90 per cent per year since commencing in 2002.
‘While Australia has extensive expertise in this asset class, Australian fund managers are few on the ground in Singapore.
‘As a result of this seminar, I am aware of approximately 20 companies looking to leverage their local strengths and expertise in the Australian listed property trust market to take advantage of the phenomenal growth and future potential in Singapore,’ said Trust’s executive general manager for institutional services Vicki Allen.
Source : Business Times - 27 Nov 2007
