This publication discusses the significance of real estate investment in Asia Pacific and the outlook of real estate products in the region.

INTRODUCTION:

Property investment has emerged as an asset class, but it remains difficult to access and is often beset by complex structures and regulation. The factors governing investment decisions differ greatly from one market to another.

Developed jurisdictions such as Australia, Hong Kong, Japan and Singapore all have well defined and strictly governed real estate markets, often competing to attract investment from institutional investors with an Asian property mandate. The other end of the spectrum sees frontier markets such as Vietnam, China and India closely studying regulatory frameworks in the rest of the region as a guide to establish their own viable marketplace for international real estate investors.

Regardless of the variation in market development there is an underlying trend — the proliferation of REITs and the increased number of property stock listings. Both vehicles give investors the advantage of transparent reporting and accounting required by the listing exchange. As a result, we are seeing investors increasingly include listed property in their portfolio which compliments, rather than competes, with their allocation to direct property investment. A consequence of this new demand is the growing choice of Asian property funds.

KPMG China, FTSE Group and APREA are pleased to have teamed up to develop this report, which explores the fast developing landscape of Asian real estate.

Andrew Weir
Partner in Charge
KPMG China
Fran Thompson
Director
Asia Pacific
FTSE Group
Peter Mitchell
CEO
Property and Infrastructure
APREA

Download Real Estate Investment in Asia Pacific: Migrating Capital

PDF format, 2.2MB, 40Pages.

Contents:
1 Introduction
2 Executive summary
4 The significance of real estate investment in Asia
A Global context
The Asian story
Capital flows in Asia
18 Outlook for real estate products in Asia
Real Estate Investment Trusts
Real Estate Funds
Real Estate Derivatives
32 About KPMG
33 About FTSE Group
34 About APREA

About KPMG:

KPMG (http://www.kpmg.com) is a global network of professional firms providing audit, tax, and advisory services, with an industry focus. The aim of KPMG member firms is to turn knowledge into value for the benefit of the firms' clients, people, and the capital markets. With more than 123,000 people worldwide, member firms provide audit, tax, and advisory services in 145 countries.

About APREA:

APREA is a non-profit industry association that works to encourage greater investment in the listed real estate sector in Asia Pacific through the provision of better information to investors, improving the general operating environment, encouraging best practices and unifying and strengthening the industry.

APREA’s mission is to:

• Promote the listed real estate sector in the Asia Pacific region to domestic and foreign investors
• Develop a unified and powerful professional industry body
• Represent the sector to governments and regulators to improve the commercial operating environment for members.

Based in Singapore, its membership comprises listed real estate companies, listed real estate trusts, unlisted property funds, investment managers, investment banks, property securities fund managers, institutional investors, real estate consultants, corporate advisors, stockbrokers, investment advisors and universities.

The APREA Institute, APREA’s education and training arm, provides the foundation for raising standards in the industry through the provision of practical and applied training programs. Its Certificate of Real Estate Investment Finance program is the only course of its kind in the region to be both developed and delivered by industry practitioners.

APREA’s achievements in education and information dissemination, and focus on improving the general real estate operating environment, have firmly entrenched it as the leading representative body for the industry in the region. In particular, its achievements in driving regulatory improvements within the listed real estate trust sector extend beyond existing markets and pave the way for the emergence of new markets in other Asian countries.

APREA membership is the gateway to a network of the industry’s most influential decision makers and provides the opportunity to influence and participate in the development of the real estate markets in Asia.

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