SINGAPORE: Asian companies, including City Developments Ltd and Regal Hotels International Holdings Ltd, will raise about US$2bil from selling property trusts during the next nine months, less than half of the region's sales a year earlier, according to UBS AG.
Only better-managed trusts with “quality growth profiles'' would survive the slump, as rising interest rates eroded the appeal of real estate investment trusts, said Mark Ebbinghaus, Singapore-based joint head of real estate, lodging and leisure at UBS Asia, the top arranger of REIT sales in 2005.