The marked improvement in the performance, in recent months, of REITs, including those set up by Indian developers, is being seen as a pointer to an imminent revival in the property market.

Indian property developers’ overseas-listed REITs such as Ascendas, Hirco, Unitech Corporate Park and Ishaan have nearly doubled in value from a year ago, even as the FTSE Global Real Estate Indices for Asia, Europe and the US have appreciated by 50% since March 2009.

The improved market conditions could also pave the way for the REIT listings of DLF and Unitech, which have been put on hold.

Times of India