India’s real estate investment trust (REIT) market has emerged as a key driver of Asia’s REIT landscape, with its market value rising 62 per cent to USD 17.7 billion by March 2026, according to Cushman & Wakefield’s Asia REIT Market Insight 2025–2026.

The report said Asia had 289 active REIT products with a combined market value of USD 279.4 billion as of March 31, 2026, up 18 per cent from USD 235.8 billion at the end of 2024. India accounted for seven REITs and a 6 per cent share of the region’s market value.

India’s REIT market surpassed Hong Kong to become Asia’s fourth-largest by market value. Japan remained the largest market with 58 REITs worth USD 101.4 billion, followed by Singapore at USD 76.7 billion and the Chinese mainland at USD 32.1 billion. 

New listings, including Knowledge Realty Trust and Bagmane Prime Office REIT, added 53.7 million sq ft to Indian REIT portfolios between June 2025 and June 2026. These accounted for around three-quarters of the total new space added to the six Indian REITs in the period.

As of June 2026, six Indian REITs held 178 million sq ft, with another 36.7 million sq ft under construction or planned. Office REIT occupancy remained high, supported by multinational occupier demand and expansion of Global Capability Centres.

Institutional Participation Deepens

Somy Thomas, Executive Managing Director, Capital Markets, India, Cushman & Wakefield, said India’s REIT market had reached an inflection point, with larger portfolios, strong occupancy and a development pipeline supporting institutional depth.

Across Asia, the Chinese mainland contributed 21 of 27 new REIT listings between the end of 2024 and March 2026. Its REIT market included 79 public infrastructure REITs valued at USD 32.1 billion.

Cushman & Wakefield said ESG disclosure, operational efficiency and asset quality are becoming increasingly important factors for investors. Data centre and hospitality REITs are expected to remain visible, supported by AI-led digital infrastructure demand and tourism recovery.

The report said Chinese mainland and Indian REIT markets are expected to remain growth engines, while mature markets focus on operating efficiency, capital structure and selective portfolio expansion.