APO RESEARCH · REPORT
Real Estate Investment Trusts (REITs)
REITs, also known as "Real Estate Investment Trust Fund", refer to the trust fund management company by issuing circulated and transferable income certificates to public investors. Raise funds and invest the raised funds in real estate assets developed, operated and managed by professional property management agencies, so as to collect stable cash flow income, and finally invest comprehensive income in proportion to the income certificate held by investors A financial innovation product allocated to investors.
Product & engineering
Understand the product.
REITs, also known as "Real Estate Investment Trust Fund", refer to the trust fund management company by issuing circulated and transferable income certificates to public investors. Raise funds and invest the raised funds in real estate assets developed, operated and managed by professional property management agencies, so as to collect stable cash flow income, and finally invest comprehensive income in proportion to the income certificate held by investors A financial innovation product allocated to investors.
Essentially, on the one hand, REITs are a kind of asset securitization product. The daily operation and management of the property is carried out through a professional property management agency. The rental income generated by the property is distributed to the shareholders of REITs in the form of dividends. Thus, the shareholders of REITs can obtain long-term stable rental income while enjoying property appreciation income. On the other hand, REITs are a kind of trust investment fund, which collects the funds of public investors and is managed by professional institutions. The funds are used to purchase the funds held by the original equity holders.
Commercial properties or infrastructure assets, including commercial properties including office buildings, commercial retail, hotels, apartments, logistics and industrial plants, etc. Infrastructure assets include highways, sewage treatment, waste incineration, hydro/wind/photovoltaic power generation, etc.
From the perspective of investors, the investment value of REITs is mainly reflected in three aspects: First, there is no threshold on the capital side, that is, when REITs are issued in the primary market, the capital side will be divided into numerous shares to attract investors to purchase. There are fewer restrictions on investors and lower thresholds, which can cover all kinds of investors to the maximum. The second is the stable dividend distribution. For investors, REITs are very good value-added and value-preserving investment products. This is mainly based on the asset side. REITs have selected the most value-added and value-preserving objects, that is, real estate assets as the investment target. On the one hand, there are stable rents as cash flow during operation, which can bring stable income to investors. On the other hand, when properties are sold, they can bring value-added income to investors, allowing many small and medium-sized investors to share in the real estate industry. A piece of cake in profit is also one of the concepts of REITs. Third, REITs are very liquid and can be listed/circulated on the open market. Investors can quickly realize their share of REITs in the market like selling stocks.
From the perspective of financiers, the advantages of REITs are mainly reflected in: First, it is conducive to improving financing efficiency. The financing amount of the issuance of REITs is much higher than that of applying for bank mortgages; second, the issuance of REITs can optimize the financial statements of the original stakeholders. The essence of REITs is the sale of properties, and the act of selling can confirm the income brought by the original equity holder’s asset appreciation. On the income statement, the value-added income between the original equity holder’s book cost and the fair value can be realized to achieve optimized profits. The effect of the table indicators; again, the structural stratification and credit enhancement measures in REITs can effectively reduce the financing costs of enterprises; finally, as a relatively high-end product in the real estate finance field, coupled with the current number of REITs issued on the market, there are not many. Once an enterprise successfully issues REITs products, it will not only increase its reputation, but also help establish the enterprise's innovative image in the capital market and build a high-quality brand.
Selected research
Industry Research
Real Estate Investment Trusts (REITs) Industry Research Report 2026
Market perspective
REITs, also known as "Real Estate Investment Trust Fund", refer to the trust fund management company by issuing circulated and transferable income certificates to public investors. Raise funds and invest the raised funds in real estate assets developed, operated and managed by professional property management agencies, so as to collect stable cash flow income, and finally invest comprehensive income in proportion to the income certificate held by investors A financial innovation product allocated to investors.
Essentially, on the one hand, REITs are a kind of asset securitization product. The daily operation and management of the property is carried out through a professional property management agency. The rental income generated by the property is distributed to the shareholders of REITs in the form of dividends. Thus, the shareholders of REITs can obtain long-term stable rental income while enjoying property appreciation income. On the other hand, REITs are a kind of trust investment fund, which collects the funds of public investors and is managed by professional institutions. The funds are used to purchase the funds held by the original equity holders.
Commercial properties or infrastructure assets, including commercial properties including office buildings, commercial retail, hotels, apartments, logistics and industrial plants, etc. Infrastructure assets include highways, sewage treatment, waste incineration, hydro/wind/photovoltaic power generation, etc.
Read the full market overview
From the perspective of investors, the investment value of REITs is mainly reflected in three aspects: First, there is no threshold on the capital side, that is, when REITs are issued in the primary market, the capital side will be divided into numerous shares to attract investors to purchase. There are fewer restrictions on investors and lower thresholds, which can cover all kinds of investors to the maximum. The second is the stable dividend distribution. For investors, REITs are very good value-added and value-preserving investment products. This is mainly based on the asset side. REITs have selected the most value-added and value-preserving objects, that is, real estate assets as the investment target. On the one hand, there are stable rents as cash flow during operation, which can bring stable income to investors. On the other hand, when properties are sold, they can bring value-added income to investors, allowing many small and medium-sized investors to share in the real estate industry. A piece of cake in profit is also one of the concepts of REITs. Third, REITs are very liquid and can be listed/circulated on the open market. Investors can quickly realize their share of REITs in the market like selling stocks.
From the perspective of financiers, the advantages of REITs are mainly reflected in: First, it is conducive to improving financing efficiency. The financing amount of the issuance of REITs is much higher than that of applying for bank mortgages; second, the issuance of REITs can optimize the financial statements of the original stakeholders. The essence of REITs is the sale of properties, and the act of selling can confirm the income brought by the original equity holder’s asset appreciation. On the income statement, the value-added income between the original equity holder’s book cost and the fair value can be realized to achieve optimized profits. The effect of the table indicators; again, the structural stratification and credit enhancement measures in REITs can effectively reduce the financing costs of enterprises; finally, as a relatively high-end product in the real estate finance field, coupled with the current number of REITs issued on the market, there are not many. Once an enterprise successfully issues REITs products, it will not only increase its reputation, but also help establish the enterprise's innovative image in the capital market and build a high-quality brand.
China key players of Real Estate Investment Trusts (REITs) include CITIC Securities, GSUM Fund Management, Hengtai Securities, Huatai Securities, Everbright and China Merchants Securities, etc. Top three players occupy for a share about 36%. In terms of product, Equity REIT is the largest segment, with a share over 80%. In terms of application, Retail property is the largest market, with a share over 37%.
Report Scope
This report quantifies the global Real Estate Investment Trusts (REITs) market in terms of revenue (US$ million) and, where applicable, service volume (Kiloton), using 2024 as the base year and providing annual historical and forecast data for 2021–2032.
It standardizes definitions of service Types and end-use Applications, harmonizes provider attribution, and delivers comparable time series by company, Type, Application, and region or country, including indicative price bands (US$/Kiloton) and concentration ratios (CR5/CR10). Outputs are intended to support service design, budgeting, capacity planning, and benchmarking for providers, platforms, channel partners, and investors; the report also reviews technology shifts and notable service innovations relevant to Real Estate Investment Trusts (REITs).
Key Companies & Market Share Insights
This section profiles leading service providers with 2021–2025 results and a 2026–2032 outlook—covering revenue, market share, price bands, service portfolio and client mix, regional and channel mix, and key developments (M&A, network expansion, certifications). It also provides global revenue, average price, and—where applicable—volume metrics by provider, and calculates CR5/CR10 and rank changes to support comparative benchmarking.
Real Estate Investment Trusts (REITs) Market by Company
CITIC Securities
GSUM Fund Management
Ping An Securities
Hengtai Securities
Huatai Securities
Shenzhen Capital Group
Everbright
China Merchants Securities
Shenwan Hongyuan Securities
CICC Fund
TF Securities
Real Estate Investment Trusts (REITs) Segment by Type
Equity REIT
Mortgage REIT
Hybrid REIT
Real Estate Investment Trusts (REITs) Segment by Application
Retail property
Real Estate & Apartment
Office property
Hotel
Infrastructure
Other
Real Estate Investment Trusts (REITs) Segment by Region
North America
United States
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Russia
Netherlands
Nordic Countries
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Southeast Asia
South America
Brazil
Argentina
Chile
Middle East & Africa
Saudi Arabia
Israel
United Arab Emirates
Turkey
Iran
Egypt
Key Drivers & Barriers
High-impact rendering factors and drivers have been studied in this report to aid the readers to understand the general development. Moreover, the report includes restraints and challenges that may act as stumbling blocks on the way of the players. This will assist the users to be attentive and make informed decisions related to business. Specialists have also laid their focus on the upcoming business prospects.
Reasons to Buy This Report
1. This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Real Estate Investment Trusts (REITs) market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.
2. This report will help stakeholders to understand the global industry status and trends of Real Estate Investment Trusts (REITs) and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in volume and value), competitor ecosystem, new product development, expansion, and acquisition.
4. This report stays updated with novel technology integration, features, and the latest developments in the market
5. This report helps stakeholders to gain insights into which regions to target globally
6. This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Real Estate Investment Trusts (REITs).
7. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.
Chapter Outline
Chapter 1: Research objectives, research methods, data sources, data cross-validation;
Chapter 2: Introduces the report scope of the report, executive summary of different market segments (product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 3: Provides the analysis of various market segments product types, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 6: Detailed analysis of Real Estate Investment Trusts (REITs) companies’ competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 7, 8, 9, 10, 11: North America, Europe, Asia Pacific, South America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 12: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including revenue, gross margin, product introduction, recent development, etc.
Chapter 13: The main points and conclusions of the report.
More report detail
Tables and figures
Scope & coverage.
Types
- Equity REIT
- Mortgage REIT
- Hybrid REIT
Applications
- Retail property
- Real Estate & Apartment
- Office property
- Hotel
- Infrastructure
- Other
Companies covered
- CITIC Securities
- GSUM Fund Management
- Ping An Securities
- Hengtai Securities
- Huatai Securities
- Shenzhen Capital Group
- Everbright
- China Merchants Securities
- Shenwan Hongyuan Securities
- CICC Fund
- TF Securities
Inside the report.
1 Preface
- 1.1 Scope of Report
- 1.2 Reasons for Doing This Study
- 1.3 Research Methodology
- 1.4 Research Process
- 1.5 Data Source
- 1.5.1 Secondary Sources
- 1.5.2 Primary Sources
2 Market Overview
- 2.1 Product Definition
- 2.2 Real Estate Investment Trusts (REITs) by Type
- 2.2.1 Market Value Comparison by Type (2021 VS 2025 VS 2032)
- 2.2.2 Equity REIT
- 2.2.3 Mortgage REIT
- 2.2.4 Hybrid REIT
- 2.3 Real Estate Investment Trusts (REITs) by Application
- 2.3.1 Market Value Comparison by Application (2021 VS 2025 VS 2032)
- 2.3.2 Retail property
- 2.3.3 Real Estate & Apartment
- 2.3.4 Office property
- 2.3.5 Hotel
- 2.3.6 Infrastructure
- 2.3.7 Other
- 2.4 Assumptions and Limitations
3 Real Estate Investment Trusts (REITs) Breakdown Data by Type
- 3.1 Global Real Estate Investment Trusts (REITs) Historic Market Size by Type (2021-2026)
- 3.2 Global Real Estate Investment Trusts (REITs) Forecasted Market Size by Type (2027-2032)
4 Real Estate Investment Trusts (REITs) Breakdown Data by Application
- 4.1 Global Real Estate Investment Trusts (REITs) Historic Market Size by Application (2021-2026)
- 4.2 Global Real Estate Investment Trusts (REITs) Forecasted Market Size by Application (2027-2032)
5 Global Growth Trends
- 5.1 Global Real Estate Investment Trusts (REITs) Market Perspective (2021-2032)
- 5.2 Global Real Estate Investment Trusts (REITs) Growth Trends by Region
- 5.2.1 Global Real Estate Investment Trusts (REITs) Market Size by Region: 2021 VS 2025 VS 2032
- 5.2.2 Real Estate Investment Trusts (REITs) Historic Market Size by Region (2021-2026)
- 5.2.3 Real Estate Investment Trusts (REITs) Forecasted Market Size by Region (2027-2032)
- 5.3 Real Estate Investment Trusts (REITs) Market Dynamics
- 5.3.1 Real Estate Investment Trusts (REITs) Industry Trends
- 5.3.2 Real Estate Investment Trusts (REITs) Market Drivers
- 5.3.3 Real Estate Investment Trusts (REITs) Market Challenges
- 5.3.4 Real Estate Investment Trusts (REITs) Market Restraints
6 Market Competitive Landscape by Players
- 6.1 Global Top Real Estate Investment Trusts (REITs) Players by Revenue
- 6.1.1 Global Top Real Estate Investment Trusts (REITs) Players by Revenue (2021-2026)
- 6.1.2 Global Real Estate Investment Trusts (REITs) Revenue Market Share by Players (2021-2026)
- 6.2 Global Real Estate Investment Trusts (REITs) Industry Players Ranking, 2023 VS 2024 VS 2025
- 6.3 Global Key Players of Real Estate Investment Trusts (REITs) Head Office and Area Served
- 6.4 Global Real Estate Investment Trusts (REITs) Players, Product Type & Application
- 6.5 Global Real Estate Investment Trusts (REITs) Manufacturers Established Date
- 6.6 Global Real Estate Investment Trusts (REITs) Market CR5 and HHI
- 6.7 Global Players Mergers & Acquisition
7 North America
- 7.1 North America Real Estate Investment Trusts (REITs) Market Size (2021-2032)
- 7.2 North America Real Estate Investment Trusts (REITs) Market Growth Rate by Country: 2021 VS 2025 VS 2032
- 7.3 North America Real Estate Investment Trusts (REITs) Market Size by Country (2021-2026)
- 7.4 North America Real Estate Investment Trusts (REITs) Market Size by Country (2027-2032)
- 7.5 United States
- 7.5 United States
- 7.6 Canada
- 7.7 Mexico
8 Europe
- 8.1 Europe Real Estate Investment Trusts (REITs) Market Size (2021-2032)
- 8.2 Europe Real Estate Investment Trusts (REITs) Market Growth Rate by Country: 2021 VS 2025 VS 2032
- 8.3 Europe Real Estate Investment Trusts (REITs) Market Size by Country (2021-2026)
- 8.4 Europe Real Estate Investment Trusts (REITs) Market Size by Country (2027-2032)
- 8.5 Germany
- 8.6 France
- 8.7 U.K.
- 8.8 Italy
- 8.9 Spain
- 8.10 Russia
- 8.11 Netherlands
- 8.12 Nordic Countries
9 Asia-Pacific
- 9.1 Asia-Pacific Real Estate Investment Trusts (REITs) Market Size (2021-2032)
- 9.2 Asia-Pacific Real Estate Investment Trusts (REITs) Market Growth Rate by Country: 2021 VS 2025 VS 2032
- 9.3 Asia-Pacific Real Estate Investment Trusts (REITs) Market Size by Country (2021-2026)
- 9.4 Asia-Pacific Real Estate Investment Trusts (REITs) Market Size by Country (2027-2032)
- 9.5 China
- 9.6 Japan
- 9.7 South Korea
- 9.8 India
- 9.9 Australia
- 9.10 China Taiwan
- 9.11 Southeast Asia
10 South America
- 10.1 South America Real Estate Investment Trusts (REITs) Market Size (2021-2032)
- 10.2 South America Real Estate Investment Trusts (REITs) Market Growth Rate by Country: 2021 VS 2025 VS 2032
- 10.3 South America Real Estate Investment Trusts (REITs) Market Size by Country (2021-2026)
- 10.4 South America Real Estate Investment Trusts (REITs) Market Size by Country (2027-2032)
- 10.5 Brazil
- 10.6 Argentina
- 10.7 Chile
- 10.8 Colombia
- 10.9 Peru
11 Middle East & Africa
- 11.1 Middle East & Africa Real Estate Investment Trusts (REITs) Market Size (2021-2032)
- 11.2 Middle East & Africa Real Estate Investment Trusts (REITs) Market Growth Rate by Country: 2021 VS 2025 VS 2032
- 11.3 Middle East & Africa Real Estate Investment Trusts (REITs) Market Size by Country (2021-2026)
- 11.4 Middle East & Africa Real Estate Investment Trusts (REITs) Market Size by Country (2027-2032)
- 11.5 Saudi Arabia
- 11.6 Israel
- 11.7 United Arab Emirates
- 11.8 Turkey
- 11.9 Iran
- 11.10 Egypt
12 Players Profiled
- 12.1 CITIC Securities
- 12.1.1 CITIC Securities Company Information
- 12.1.2 CITIC Securities Business Overview
- 12.1.3 CITIC Securities Revenue in Real Estate Investment Trusts (REITs) Business (2021-2026)
- 12.1.4 CITIC Securities Real Estate Investment Trusts (REITs) Product Portfolio
- 12.1.5 CITIC Securities Recent Developments
- 12.2 GSUM Fund Management
- 12.2.1 GSUM Fund Management Company Information
- 12.2.2 GSUM Fund Management Business Overview
- 12.2.3 GSUM Fund Management Revenue in Real Estate Investment Trusts (REITs) Business (2021-2026)
- 12.2.4 GSUM Fund Management Real Estate Investment Trusts (REITs) Product Portfolio
- 12.2.5 GSUM Fund Management Recent Developments
- 12.3 Ping An Securities
- 12.3.1 Ping An Securities Company Information
- 12.3.2 Ping An Securities Business Overview
- 12.3.3 Ping An Securities Revenue in Real Estate Investment Trusts (REITs) Business (2021-2026)
- 12.3.4 Ping An Securities Real Estate Investment Trusts (REITs) Product Portfolio
- 12.3.5 Ping An Securities Recent Developments
- 12.4 Hengtai Securities
- 12.4.1 Hengtai Securities Company Information
- 12.4.2 Hengtai Securities Business Overview
- 12.4.3 Hengtai Securities Revenue in Real Estate Investment Trusts (REITs) Business (2021-2026)
- 12.4.4 Hengtai Securities Real Estate Investment Trusts (REITs) Product Portfolio
- 12.4.5 Hengtai Securities Recent Developments
- 12.5 Huatai Securities
- 12.5.1 Huatai Securities Company Information
- 12.5.2 Huatai Securities Business Overview
- 12.5.3 Huatai Securities Revenue in Real Estate Investment Trusts (REITs) Business (2021-2026)
- 12.5.4 Huatai Securities Real Estate Investment Trusts (REITs) Product Portfolio
- 12.5.5 Huatai Securities Recent Developments
- 12.6 Shenzhen Capital Group
- 12.6.1 Shenzhen Capital Group Company Information
- 12.6.2 Shenzhen Capital Group Business Overview
- 12.6.3 Shenzhen Capital Group Revenue in Real Estate Investment Trusts (REITs) Business (2021-2026)
- 12.6.4 Shenzhen Capital Group Real Estate Investment Trusts (REITs) Product Portfolio
- 12.6.5 Shenzhen Capital Group Recent Developments
- 12.7 Everbright
- 12.7.1 Everbright Company Information
- 12.7.2 Everbright Business Overview
- 12.7.3 Everbright Revenue in Real Estate Investment Trusts (REITs) Business (2021-2026)
- 12.7.4 Everbright Real Estate Investment Trusts (REITs) Product Portfolio
- 12.7.5 Everbright Recent Developments
- 12.8 China Merchants Securities
- 12.8.1 China Merchants Securities Company Information
- 12.8.2 China Merchants Securities Business Overview
- 12.8.3 China Merchants Securities Revenue in Real Estate Investment Trusts (REITs) Business (2021-2026)
- 12.8.4 China Merchants Securities Real Estate Investment Trusts (REITs) Product Portfolio
- 12.8.5 China Merchants Securities Recent Developments
- 12.9 Shenwan Hongyuan Securities
- 12.9.1 Shenwan Hongyuan Securities Company Information
- 12.9.2 Shenwan Hongyuan Securities Business Overview
- 12.9.3 Shenwan Hongyuan Securities Revenue in Real Estate Investment Trusts (REITs) Business (2021-2026)
- 12.9.4 Shenwan Hongyuan Securities Real Estate Investment Trusts (REITs) Product Portfolio
- 12.9.5 Shenwan Hongyuan Securities Recent Developments
- 12.10 CICC Fund
- 12.10.1 CICC Fund Company Information
- 12.10.2 CICC Fund Business Overview
- 12.10.3 CICC Fund Revenue in Real Estate Investment Trusts (REITs) Business (2021-2026)
- 12.10.4 CICC Fund Real Estate Investment Trusts (REITs) Product Portfolio
- 12.10.5 CICC Fund Recent Developments
- 12.11 TF Securities
- 12.11.1 TF Securities Company Information
- 12.11.2 TF Securities Business Overview
- 12.11.3 TF Securities Revenue in Real Estate Investment Trusts (REITs) Business (2021-2026)
- 12.11.4 TF Securities Real Estate Investment Trusts (REITs) Product Portfolio
- 12.11.5 TF Securities Recent Developments
13 Report Conclusion
14 Disclaimer
GET THE RESEARCH
Choose your license.
Choose who needs access.
All options are for this report and research series.
PDF by email within 3–5 working days after payment confirmation.
Talk to an analyst