However, the weighted average dividend yield for Asian REITs contracted to 6.86 per cent in the first half of 2010 from 8.06 per cent during the same period last year, US-based CBRE said in a statement.
"The fortunes of Asian REITs still remained mixed. During the first half of the year, some markets have seen strong growth in IPO (initial public offering) and acquisition activity and others have witnessed delisting applications, mergers and consolidations," said Andrew Ness, executive director at CBRE Research Asia. "REITs in Japan, Taiwan, South Korea and Hong Kong outperformed their respective stock markets, all of which suffered downward adjustments in the second quarter amid concerns over the pace of the global economic recovery," Ness said.
Acquisitions in the market totalled US$5.7 billion during the first half of 2010, surpassing the US$4.2 billion recorded for the whole of 2009, with Japan being the most active market for asset purchases, CBRE said.
Singaporean and Malaysian REITs were active buyers of office, retail, industrial and healthcare assets, while REITs in Hong Kong, Taiwan, South Korea and Thailand remained inactive, it said.
While a few REITs were delisted, South Korea, Singapore and Thailand saw new listings, such as Cache Logistics.
REITs invest in mainly commercial property and pay rent collected from their properties to shareholders as a dividend and also usually offer returns that are higher than yields of government bonds.
By Reuters
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