Asia REIT Market Value Jumps 18% Driven by China and India
Asia's REIT market grew 18% to US$279.4 billion as of March 31, 2026, fueled by new listings from mainland China and a 62% surge in India's REIT market value. India now ranks as Asia's fourth-largest REIT market.
7 billion, up from US$11 billion in end 2024 HONG KONG SAR — 1 Media OutReach Newswire — 22 September 2026 — The Asia Real Estate Investment Trust (REIT) market entered a new phase of expansion in 2025—2026, with the Chinese mainland and India REIT markets emerging as the principal engines of regional growth, according to Cushman & Wakefield's 2 Asia REIT Market Insight 2025—2026. 4 billion as at 31 March 2026, up 18% from the end of 2024.
Mature markets such as Japan, Singapore and Hong Kong stabilised and recovered moderately, while emerging markets such as Chinese mainland and India gained momentum through new product issuance, expanded asset classes and deeper institutional participation. In addition, ESG disclosure, operational efficiency and asset quality are becoming increasingly important differentiators for investors across Asia's REIT markets.
4 100% India REIT data includestwoSM REITs database, websites of Hong Kong Stock Exchange, Singapore Exchange, and Tokyo Stock Exchange; NAREIT; compiled by Cushman & Wakefield Beijing Valuation & Advisory Services The Chinese mainland remained one of Asia's most significant REIT growth stories, contributing 21 of the 27 new listings in Asia between end 2024 to March 2026, far outpacing other new listings from Thailand, Japan, Malaysia and South Korea, and underscoring its dominant role in driving the region's REIT market growth. 3 billion).
A key development supporting the Chinese mainland market was the launch of the commercial real estate REIT pilot programme in late 2025, which marked a major broadening of the market beyond infrastructure. Eligible assets were expanded to include offices, shopping malls, hotels, outlets and mixed-use commercial properties, creating a new capital recycling channel for stabilised operating assets. Andrew Chan, Managing Director, Head of Valuation & Advisory Services, Greater China, at Cushman & Wakefield said, "The Chinese mainland REIT market is moving into a more sophisticated phase.
Regularised infrastructure REIT issuance has established scale and investor familiarity, while the commercial real estate REIT pilot programme introduces a powerful second growth pillar. " India's REIT market also advanced from an emerging platform toward institutional scale. Market value rose 62% from end 2024 to March 2026, allowing India to surpass Hong Kong for the first time and become Asia's fourth-largest REIT market by market value. 7 million sq ft and accounting for around three-quarters of the total new space added to the six India REITs between June 2025 and June 2026.
Office REIT occupancy remained high amid tightening Grade A vacancy, while sustained multinational occupier demand and continued expansion by Global Capability Centres (GCCs) remain. 7 million sq ft under construction or planned. Somy Thomas, Executive Managing Director, Capital Markets, India, at Cushman & Wakefield said, "India's REIT market has reached an important inflection point, with larger listed portfolios, strong occupancies and a healthy development pipeline reinforcing its institutional depth.
Demand from multinational companies and GCCs continues to favour high-quality, professionally managed office assets, while recent regulatory measures are widening the investor base and improving access to financing. " Across the mature markets, Japan, Singapore and Hong Kong recorded market value growth of 12%, 14% and 8%, respectively, between end 2024 and March 2026, reflecting a period of steady expansion. Japan benefited from recovering office fundamentals and strong hotel performance, while Singapore entered a vigorous acquisition phase, and Hong Kong recorded valuation recovery alongside policy initiatives designed to strengthen liquidity.
Data centre and hospitality REITs are expected to remain highly visible, supported by AI-led digital infrastructure demand and tourism recovery, while M&A and asset acquisitions should stay active as managers pursue scale, diversification and portfolio quality. Catherine Chen, Research Director, Asia Pacific, at Cushman & Wakefield noted, "Looking ahead, we expect the Chinese mainland and India REIT markets to remain the region's key growth engines, while established markets focus on operating efficiency, capital structure and selective portfolio expansion. " Please click 3 here to download the report.
Hashtag: #CushmanWakefield #REIT #AsiaREITMarket The issuer is solely responsible for the content of this announcement. About Cushman & Wakefield Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for occupiers and investors with approximately 53,000 employees in over 350 offices and nearly 60 countries. In Greater China, a network of 23 offices serves local markets across the region. 3 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 4 or follow us on LinkedIn ( 5 ). 6 225647 News Source: Cushman & Wakefield 22/09/2026 Dissemination of a Financial Press Release, transmitted by 7 EQS News. The issuer is solely responsible for the content of this announcement.
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