Archive · 21 Sep 2026
India Becomes Asia’s Fourth-Largest REIT Market, Cushman Says
A REIT is a company that lets people invest in income-producing property.
A new report says India’s REIT market grew significantly.
Its value reached $17.7 billion by March 31, 2026.
This put India just ahead of Hong Kong in Asia.
Japan, Singapore, and the Chinese mainland still had larger markets.
India had seven REITs at the end of March, including two smaller-market REITs.
Two new REITs added many office properties to the market.
Office buildings remained popular because multinational companies and global capability centres continued to demand space.
India’s REIT market value rose 62% to $17.7 billion between the end of 2024 and March 31, 2026.
India moved past Hong Kong to become Asia’s fourth-largest REIT market by value.
Asia’s 289 active REIT products had a combined market value of $279.4 billion as of March 31, 2026.
Japan remained the region’s largest REIT market, followed by Singapore and the Chinese mainland.
Knowledge Realty Trust and Bagmane Prime Office REIT added 53.7 million square feet to India’s listed REIT portfolios.
- Who
- India’s listed REITs, Cushman & Wakefield, and investors in Asian REIT markets.
- What
- India overtook Hong Kong to become Asia’s fourth-largest REIT market by market value.
- When
- The comparison covers the period from the end of 2024 to March 31, 2026; additional portfolio figures are reported as of June 2026.
- Where
- Across major Asian exchanges, with the ranking focused on India, Hong Kong, Japan, Singapore, and the Chinese mainland.
- Why
- India’s market grew through new listings and expanding property portfolios, while demand for office space remained strong.
- India’s REIT market value
- $17.7 billion as of March 31, 2026, up from $11 billion at the end of 2024.
- Asia-wide REIT market
- $279.4 billion across 289 active products as of March 31, 2026.
- India’s regional ranking
- Fourth-largest in Asia by market value, narrowly ahead of Hong Kong’s $17.4 billion.
- Largest Asian markets
- Japan: $101.4 billion; Singapore: $76.7 billion; Chinese mainland: $32.1 billion.
- India’s listed REITs
- Seven as of March 31, 2026, including two small and medium REITs.
- India’s property holdings
- Around 178 million square feet held by six listed REITs as of June 2026, with 36.7 million square feet under construction or planned.
- New Indian listings
- Knowledge Realty Trust and Bagmane Prime Office REIT added a combined 53.7 million square feet.