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Singapore exchange launches Reits in Malaysian property

Article Date : Friday, June 29, 2007       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

The Singapore exchange is believed to be seeking real estate investment trust (Reits) listings for products that could include Malaysian properties.

According to the Times, the Singapore Reit market has grown to be worth approximately £7 billion in recent years.

Alastair Gillespie, co-head of Asian real estate research at UBS, told the newspaper that the "liquidity" within the country's Reits market could see Singapore become an important investment centre.

"It could quite quickly begin to attract Reits where the underlying assets are based in India, Indonesia, Vietnam, Malaysia and China," he said.

In related news, Christopher Boyd, executive chairman of Regroup Associates, recently said that Malaysia's rapid economic growth would be able to sustain its property market, the Edge Daily reports.

Additionally, the government removed capital gains tax earlier in the year, a move which could attract a greater number of foreign property investors.
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