eFinancialCareers

Singapore’s Real Estate Investment Trust market is roaring – creating interesting openings for outsiders.

"There's no question that the growth of the Singapore REIT market is offering more career opportunities for candidates with experience in the listed sector," says Matthew Hardy, director of Sydney-based executive search firm Thomas Hardy. "Not only is the Singapore market itself in strong growth mode but it also serves as a base to cover broader Asian property equities."

Demand for executives has changed in recent years. Five years ago, when the Singapore industry was in its nascency, demand was for experienced senior executives to demystify the listing process and structure REITs.

Today, however, Hardy says demand remains strong for local CEOs, but is growing fastest for people with offshore REITs markets experience that can be applied to local REIT analysis and asset management.

The Singapore Exchange (SGX) has been actively promoting its REIT market with the aim of becoming a pan-Asian REIT hub. There are now 15 REITs with a combined market capitalisation of S$22.9bn (US$14.75bn) in Singapore. As a result, SGX is the largest REIT market in Asia outside Australia and Japan.

"We've experienced strong growth with market capitalisation increasing by 114% per annum over the last four years," says Lawrence Wong, head of listings at SGX. He says the main drivers of growth include new REIT listings, secondary offerings to fund new acquisitions, and capital appreciation.

Singapore-based REIT analysts can command salaries in the range of S$120k to S$200k (AU$101k to AU$167k), depending on type of experience, plus bonuses from 25% to 75%.

Product development people in REITs are commanding from S$180k to S$280k plus bonus, again depending on the nature of experience and type of role.

And banks such as Macquarie Bank and UBS are said to have been hiring.