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Saturday, December 20, 2008

Australian real estate investment trust

After originating in the United States in 1960, the REIT concept was launched in Australia in 1971. General Property Trust was the first Listed Property Trust (LPT) on the Australian stock exchanges (now the Australian Securities Exchange). REITs which are listed on an exchange were known as Listed Property Trusts (LPTs) until March 2008, distinguishing them from private REITs which are known in Australia as Unlisted Property Trusts. They have since been renamed Australian Real Estate Investment Trusts (A-REITs) in line with international practice.

There are now more than 60 A-REITs listed on the ASX, with market capitalisation in excess of A$100bn.

Australia is also receiving growing recognition as having the world’s largest REITs market outside the United States. More than 12 per cent of global listed property trusts can be found on the ASX.
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