Singapore REITS on a roll

Singaporeís Real Estate Investment Trust (REIT) market is roaring ñ creating interesting openings for outsiders.

Matthew Hardy, Director of Sydney based executive search firm Thomas Hardy tells eFinancialCareers there is no question that the growth of the Singapore REIT market is offering more career opportunities for candidates with experience in the listed sector. Not only is the Singapore market itself in strong growth mode but it also serves as a base to cover broader Asian property equities.

Demand for executives has changed in nature to that needed five years ago when the Singapore REIT sector was in its infancy. Then, demand was for experienced senior executives to demystify the listing process and structure REITS.

Nowadays Hardy says demand is remains strong for local CEOs, but itís also growing for people with offshore REITS markets experience that can be applied to local REIT analysis and asset management.

Singapore Exchange (SGX) has been actively promoting its REIT market and seeks to be a pan Asian REIT hub. There are now 15 REITS with a combined market capitalization of S$22.9bn, [US$14.75bn] in Singapore. SGX is the largest REIT market in Asia outside Australia and Japan.

Lawrence Wong, head of listings, SGX, tells us, We have experienced strong growth with market capitalization increasing by 114% per annum over the last four years. The main drivers of growth include: new REIT listings including cross-border listings; secondary offerings to fund new acquisitions; capital appreciation; and diversification of type of REITS.

REIT analysts are believed to be getting salary ranges S$120k to S$200k, [US$78k to US$130k] depending on type of experience, plus bonuses from 25% to 75%.

Product development people in REITS are commanding from S$180k to S$280k plus bonus, again depending on nature of experience and type of role.

Investment banks such as Macquarie Bank and UBS are said to have been hiring.