The financial services provider said the demand for its REIT trustee services in Singapore shows little sign of slowing following the results of the recent IPO of its Keppel Data Centre REIT.
“Listed on the Singapore Stock Exchange on 12 December 2014, Perpetual Corporate Trust is the trustee for the newly listed Singapore REIT and is expecting more IPOs next year,” a statement from Perpetual said.
Perpetual general manager for corporate clients Andrew Cannane said Singapore is strongly positioned as a “key hub” for REITs in the Asia Pacific region.
“We continue to experience strong demand for our Singapore trustee services as well as trustee services for cross-border transactions incorporating Australian assets,” Mr Cannane said.
The financial services company added that the IPO of the Keppel Data Centre REIT – which raised $393 million – “further boosts” the Singapore IPO market.
An Asia Pacific Real Estate Association report sponsored by Perpetual named Singapore as one of the top two markets in the Asia Pacific due to its strong regulatory framework, reporting, valuation guidelines and governance in relation to party transactions.
“With the pilot of the Asian Regional Funds Passport set to commence in January 2016, we expect to see cross-border flows continue to grow and we will be well placed to help clients across Australia and Singapore take advantage of this emerging regional collaboration,” Mr Cannane said.
