In This Issue: Emerging Trends In Asian Real Estate: Standard & Poor's is seeing significant changes in Asia's real estate markets due to the emergence of real estate investment trusts (REITs), growing urbanization, the increasing presence of foreign institutional investors, and the opening-up of the real estate sector in China. Asia is home to half the world's population, but real estate ownership per capita is among the lowest globally. Foundations Laid For Sizable And Credible Asian REIT Market: The total market value of REITs across Asia, including Australia, recently pushed through the US$100 billion mark. Excluding Australia, Asia's REIT sector has grown from virtually nothing at the start of the decade to a US$40 billion-plus industry comprising more than 100 trusts. Property owners and investors in Japan, Singapore, and Hong Kong have led the charge. Commercial Mortgage-Backed Securities Lead Charge Into Asian Securitization: Commercial mortgage-backed securities have been the only traditional type of securitization to gain significant traction in Asia. The question now is will they reach critical mass to become a viable alternative to traditional bank funding and bring other asset classes to the market as well? | 
