Developers add asset diversity as government creates tax breaks.
SINGAPORE: The 10 billion Singapore dollar, or $6.4 billion, real estate investment trust industry in Singapore could triple in market value in the next five to 10 years as more assets become available, officials at CapitaLand, the biggest Singaporean developer, said.
CapitaLand, which manages three of Singapore’s 13 property trusts, said tax breaks and other incentives helped raise investor interest in the industry. The developer sold shares in the first Singapore REIT, CapitaMall Trust, in 2002.