Top Japanese brokerage Nomura Holdings, looking to build up its equities business in Asia beyond Japan, has set up a unit in Singapore to invest in and finance property deals in the region and to develop a real estate investment trust (REIT) business.
"That (REIT business) is something we are keen to do more of in Asia ex-Japan," Philippe Espinasse, Nomura's new co-head of equity capital markets, said in an interview on September 13.
Espinasse, who has REIT experience from his previous stint as head of Asia equity capital markets at securitisation specialist Macquarie Bank, said Nomura's new Asia Asset Finance unit, which was set up in July, would grow to about 12 people.
Singapore is the top property trust market in Asia-Pacific after Japan and Australia, and the city-state has become a hub for the listing of trusts holding assets outside the country, as well as assets other than property, such as ships.
Singapore is home to 17 property trusts with a combined market value of more than US $15 billion. "You now have a critical mass with Singapore REITs," Espinasse said.
Comments
Comments are closed.