HONG KONG HSBC (HSBA.L)(0005.HK) expects the number of real estate investment trusts in Asia to surge over the next 3 to 4 years due to demand for more risk-averse property investments, a senior executive said on Thursday.
"I see proliferation of REITs, absolutely. I think we'll have twice as many REITs in Singapore as we do today in the next three or four years," Jason Kern, managing director and head of real estate advisory for Asia Pacific at HSBC, said at the Reuters Global Real Estate and Infrastructure Summit.
"What I find in my space is that investors are more risk-averse for sure. They are more defensive," Kern said. "We actually still find very strong demand at the most defensive end of the spectrum, which are the REITS."
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