India, Sept. 21 -- India has overtaken Hong Kong to become Asia's fourth-largest real estate investment trust (REIT) market by value, driven by new product issuance, expanded asset classes and deeper institutional participation, according to Cushman & Wakefield's Asia REIT Market Insights 2025-2026 report.

China's mainland remained Asia's largest most significant REIT market, with 79 REITs and a combined market value of $32.1 billion, accounting for an 11% market share. It was also one of the region's most significant REIT growth stories, contributing 21 of the 27 new listings in Asia between the end of 2024 and March 2026. Other new listings came from Thailand, Japan, Malaysia and South Korea.

As of March 31, 2026, as many as 79 public...