17-07-2025
Cushman & Wakefield: China Leads REIT Market Expansion in Asia while India's REIT Market Demonstrates Robust Growth
Chinese mainland REIT market joined the top three largest REIT markets in Asia for the first time with a n 85% increase in market value in 2024
India's office REIT market attracted considerable leasing demand from global capability centres
Data centre and hospitality REITs gained strong investor interest in Japan and Singapore
Market
Number of REITs
Market Value (USD billion)
Market Share (%)
Japan
57
90.8
38.5
Singapore
39
67.4
28.6
Chinese Mainland
58
21.4
9.1
Hong Kong, China
11
16.1
6.8
India
4
11.0
4.6
Thailand
38
8.3
3.5
Malaysia
18
7.7
3.2
The Philippines
8
5.8
2.5
South Korea
24
5.3
2.3
Taiwan, China
6
21.0
0.9
Total
263
235.8
100
Expansion of C-REIT market
Global capability centres drive leasing demand for India office REITs
Looking Ahead
HONG KONG SAR - Media OutReach Newswire – 17 July 2025 –China and India's Real Estate Investment Trust (REIT) markets showed robust growth in 2024 and are expected to continue to attract strong investor interest this year, according toCushman & Wakefield's. The annual report revealed that the Chinese mainland REIT (C-REIT) market achieved a remarkable 85% increase in market value at the end of 2024, surpassing Hong Kong and becoming one of the region's top three REIT markets. In the same period, India's REIT market demonstrated robust growth in the office sector, driven by strong leasing demand for institutional-grade office space. Meanwhile, mature markets such as Japan, Singapore and Hong Kong moved toward stabilization, underlining their long-term year 2024 saw a breakthrough in C-REIT issuance with 29 new REIT products, including 19 real estate-backed REITs. This represented the highest annual issuance recorded to date. Among product categories, consumer infrastructure REITs led the issuance count with seven new listings, followed by industrial park REITs with six launches. Heading into 2025, the market has maintained its robust trajectory with six REITs launched in Q1, including five real estate-backed products. As of March 31, 2025, a total of 64 public infrastructure REITs were listed in the Chinese mainland, marking a significant period of growth in the #Cushman&Wakefield
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Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2024, the firm reported revenue of $9.4 billion across its core services of Valuation, Consulting, Project & Development Services, Capital Markets, Project & Occupier Services, Industrial & Logistics, Retail, and others. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit or follow us on LinkedIn (
