Progress to list the first Philippine and China REIT on the respective countries’ stock markets are on track, and this is set to alter the Asian property investment landscape henceforth, said industry body, Asia Pacific Real Estate Association (APREA).

“The first Indian REIT debuted this year and we are excited that plans already in motion in China and the Philippines will herald a new era for the region”, said Sigrid Zialcita, the association’s CEO.

In April 2019, Philippine property developer Ayala Land confirmed that it is looking to raise USD500 million in the country's first REIT offering.