Sasseur REIT will be added as a constituent of two Global Property Research (GPR)/Asia Pacific Real Estate Association (APREA) indexes, the REIT manager said on Friday.
The REIT will be part of the GPR/APREA Composite Index, which represents the Asia Pacific property market and includes developers, landlords and REITs listed in Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, the Philippines, Singapore, Taiwan and Thailand, it said in the filing to SGX on Friday.
That index has 425 constituents with a free float market capitalization of US$590 billion, it said.
It will also be added to the GPR/APREA REIT Index, which has similar country coverage, but only includes REITs, Sasseur Asset Management, which is the manager of Sasseur REIT, said in the filing.
The GPR/APREA REIT Index has 164 constituents, with a free float market capitalization of US$251 billion, it said.
Anthony Ang, CEO of Sasseur REIT’s manager, was positive on the inclusion, saying it would “enhance” the REIT’s reputation and boost its attractiveness to institutional and other investors.
“Sasseur REIT represents an excellent opportunity for investors to be exposed to the strong outlet sector in China through a listed REIT in Singapore that protects it with robust regulations and compliance requirements,” Ang said in the statement.
“We will continue to work on broadening our investor base while bettering our performance at the Sasseur outlet malls,” he added.