Asia Fresh News

Asia Fresh Stories

Newly Launched REIT Association Aims to Strengthen S-REIT Industry

leave a comment »

-REITAS to improve public education on REITs, enhance operating environment

SINGAPORE, Nov. 17, 2014 /PRNewswire/ — The Singapore REIT (S-REIT) industry now has its own representative platform in the form of the newly launched REIT Association of Singapore (REITAS), which aims to promote the growth and development of the S-REIT industry.

“We need a body to focus on the very specific needs of the REIT industry in Singapore, as the challenges faced by REIT industry are very different from other asset classes and other real estate-related businesses,” said Chua Tiow Chye, President of REITAS. “REITAS aims to strengthen this young industry, and better engage investors and regulatory authorities as a unified body.”

REITAS is managed by nine executive committee members, representing organisations from the REIT, finance, legal and trustee sectors. Chua Tiow Chye, who is also Chief Investment Officer of Mapletree Investments group, holds the association’s inaugural Presidency, with Sonny Tan as REITAS CEO.

A young industry in Singapore

The local S-REIT industry is still in its early stage, with Singapore’s first REIT having only been listed 12 years ago. However, the industry has seen tremendous growth since, with 33 REITs in Singapore and over S$61 billionmarket cap. The local industry’s international asset portfolio has turned Singapore into an international REIT centre, with its growth unconstrained by Singapore’s domestic size.

“I believe our REIT industry has much room to grow, in size, sector diversity, level of sophistication, professionalism, financial and management depth,” said Mr Chua. “REITAS is able to represent the REIT community and help our members by focusing on the Singapore side of the equation, and work through the authorities here.”

Educating the REIT Community

REITAS plans to roll out a string of programs to reach out to the investor public as well as REIT industry professionals. The Association will partner with the SGX Academy to conduct seminars and courses, at which investors will be given an opportunity to dialogue with senior managers from the association’s member organisations. The Association also plans to work with the remisier community, to give them a better understanding of REITs as an investment alternative.

REITAS currently has over 40 organisations in its membership, with more than 70 percent (by market capitalisation) of the S-REIT players signed up, as well as tremendous support from trustees, law firms, financial institutions, property consultancies, and academic institutions.

For more information about REITAS, visit http://www.reitas.sg/.

About REITAS

The REIT Association of Singapore (REITAS) was formed as a representative body to engage and provide feedback with relevant authorities on industry regulatory matters, provide education on S-REIT functions, structures and merits, and promote the S-REIT industry as a whole to the investor public. The association represents over 40 member organisations, hailing from realty, finance academic and legal sectors.

REITAS is managed by nine executive committee members, representing organisations from the REIT, finance, legal and trustee sectors. Chua Tiow Chye, who is also Chief Investment Officer of Mapletree Investments group, holds the association’s inaugural Presidency, with Sonny Tan as REITAS CEO.

The association consists of three sub-committees, namely the Promotion Committee, the Education and Research Committee, and the Regulatory Committee.

Ng Hsueh Ling heads the Promotion Committee, which aims to promote greater awareness and market prominence of the S-REIT industry in Singapore, regional as well as global capital markets.

Arthur Lang, leads the Research and Education Committee, which aims to educate and disseminate accurate information in order to foster greater understanding of S-REITS amongst the public. He will also be tasked to enhance the level of professionalism and competencies amongst the participants in the S-REIT industry through a series of courses and training.

Anthony Ang leads the Regulatory Committee, which is responsible for engaging the regulatory authorities to lead discussions relating to legal and policy issues, regulations and guidelines. The committee will also engage members for feedback and keep them updated on the regulatory developments and new legislations, and have them share their views with the regulators in order to contribute policy-making processes that will have an impact on REITs as a whole.

To see the REITAS Committee’s organisation structure, visit:https://drive.google.com/file/d/0B_0XYqrCqTwbWXowT2UwSTN1RDQ/view?usp=sharing

REIT Association of Singapore
16 Collyer Quay
#20-10 Singapore 049318
Contact us
+65 6818 9631 / 65 6818 9693
enquiry@reitas.sg
www.reitas.sg

Source: REIT Association of Singapore

Written by asiafreshnews

November 18, 2014 at 5:26 pm

Posted in Business & Finance

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: