Australian real estate manager MacarthurCook Ltd said yesterday that it is likely to list another real estate investment trust (Reit) in Asia

Australian real estate manager MacarthurCook Ltd said yesterday that it is likely to list another real estate investment trust (Reit) in Asia with potential assets of offices, residential properties or healthcare facilities. It also said that its Singapore Reit will likely make its first overseas investment in the next year.

‘I would expect that within about three years, we will be managing another Reit in Asia,’ Craig Dunstan, managing director and chief investment officer for MacarthurCook, said at the Reuters Real Estate Summit in Singapore. MacarthurCook launched a Reit in April in Singapore based on industrial properties, MacarthurCook Industrial Real Estate Investment Trust.

Mr Dunstan said acquisitions of foreign asset won’t happen this year, but in the next 12 months’ time. ‘Within 12 months, we hope to have acquired some real estate overseas,’ he said. ‘I would expect that within five years, the portfolio might be 50-60 per cent in Singapore still, and might be 20 per cent in Japan and the rest in key market such as Malaysia, Hong Kong, possibly within five years in the Philippines, Vietnam, and South Korea.’

Source: The Business Times, 26 June 2007