American Tower, Welltower, and Prologis were the real estate investment trusts (REITs) worldwide with the largest market caps as of April 14, 2024. All three REITs were headquartered in the United States. If fact, out of the 30 largest REITs, only *** was headquartered outside the United States — **************************

Unibail-Rodamco-Westfield, a Paris-headquartered owner, asset manager, and developer of shopping center real estate, was the real estate investment trust (REIT) with the largest market cap trading on the Euronext Paris stock exchange in France as of October 2, 2025. The market cap, or the aggregate value of the total outstanding shares of the company, was ***** billion U.S. dollars during that period. Unibail-Rodamco-Westfield also had the highest revenue. Nevertheless, Argan, which specializes in premium warehouses, topped the ranking in terms of five-year return on investment.

Segro PLC was the biggest real estate investment trust (REIT) trading on the London Stock Exchange as of March 2025. A real estate investment trust (REIT) is a company that owns, and in most cases operates, income-producing real estate. REITs invest in many types of commercial real estate: offices, rental apartments, industrial warehouses, as well as hospitals, hotels, and retail properties. Market cap of REITS As of March 31, 2025, Segro PLC was ranked at the high end of the scale, with approximately ****billion British pounds in market capitalization. Segro PLC operates in eight European countries and specializes in big box and urban warehousing for retailers, logistics and transport companies, manufacturers, wholesalers. The London Stock Exchange (LSE) LSE is one of the oldest stock exchanges in the world, listing approximately ***** companies with an aggregate market capitalization of approximately *** trillion British pounds in 2024.

The GCC REIT Market Report is Segmented by Sector of Exposure (Retail, Industrial, Office, Residential, Diversified, Other Sectors, Data Centers, Healthcare), Market Capitalization (Large-Cap ≥ USD 10 Billion, Mid-Cap USD 2–10 Billion, Small-Cap < USD 2 Billion), and Geography (Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Bahrain, Oman). The Market Forecasts are Provided in Terms of Value (USD).

As of October 2024, the ten leading mortgage real estate investment trusts (REITs) in the United States had a combined market capitalization of about ** billion U.S. dollars. All REITs in the list experienced an increase in market capitalization in 2024, indicating an optimistic outlook. The home financing mortgage REIT Annaly Capital Management, Inc. saw its market cap increase from *** billion U.S. dollars to *** billion U.S. dollars. According to the source, mortgage REITs generate income from the interest on investments in mortgages and mortgage backed securities of income-producing residential and commercial properties. The REITs sector has grown substantially, with the market cap reaching a record high in 2021. After a difficult year of negative returns in 2022, the year-to-date total returns for all property segments returned to positive grounds in 2023.

As of December 29, 2024, the ten leading retail real estate investment trusts (REITs) in the United States had a combined market capitalization of about *** billion U.S. dollars. Most REITs in the list saw their market caps increase in 2024. The largest retail REIT, Simon Property Group, saw its market cap rise from **** billion U.S. dollars to **** billion U.S. dollars between December 2023 and December 2024. Despite the REIT sector compressing in 2022, the three year-returns of most REITs remained positive.

The Europe REIT Report is Segmented by Sector of Exposure (Retail, Industrial, Office, Residential, Diversified, Other Sectors, Data Centers, Healthcare), Market Capitalization (Large-Cap, Mid-Cap, Small-Cap), and Geography (United Kingdom, Germany, France, Spain, Italy, BENELUX, NORDICS, Rest of Europe). The Market Forecasts are Provided in Terms of Value (USD).

The North America REIT Market Report Segments the Industry by Sector of Exposure (Retail, Industrial, Office, and More), by REIT Structure (Equity REITs, Mortgage REITs, and Hybrid REITs), by Market-Capitalization Size (Large-Cap (≥ US $10 Bn, Mid-Cap (US $3–10 Bn), and Small-Cap (≤ US $3 Bn)), and by Country (United States, Canada, and Mexico). The Market Forecasts are Provided in Terms of Value (USD).

Ebit Time Series for Link Real Estate Investment Trust. Link Real Estate Investment Trust (Link REIT) is the largest REIT in Asia by many measures including asset value. Managed by Link Asset Management Limited (Link), a leading, independent and fully-integrated real estate investor and manager focusing on the APAC region, Link REIT has been entirely owned by independent investors since its listing in November 2005 as the first REIT in Hong Kong. After initially acquiring a portfolio of shopping centres and car parks in Hong Kong valued at around HK$33 billion at the time of its IPO, Link has grown and diversified the Link REIT's property portfolio. Today, the portfolio includes retail facilities, car parks, offices, and logistics assets which span Hong Kong, Mainland China, Australia, Singapore, and the UK, with a total valuation of around HK$226 billion (As at 31 March 2025). Link aims to further grow and diversify the Link REIT portfolio to continue delivering resilient returns and growth to Unitholders. Link REIT is a constituent of the Hong Kong securities market benchmark Hang Seng Index, as well as a component of the Dow Jones Sustainability Asia Pacific Index, the FTSE4Good Index Series and the Hang Seng Corporate Sustainability Index. Asset management, portfolio management and capital management are three pillars of our management strengths. We are committed to integrating Environment, Social and Governance (ESG) considerations into our strategy and daily operations.

The Asia-Pacific REIT Market Report is Segmented by Sector of Exposure (Retail, Industrial, Office, Residential, and More), Market Capitalization (Large-Cap ≥ USD 10 Billion, Mid-Cap USD 2-10 Billion, Small-Cap < USD 2 Billion), and Geography (India, China, Japan, Australia, South Korea, and More). The Market Forecasts are Provided in Terms of Value (USD).

In 2025, Equinix was the largest data center real estate investment trust (REIT) in the United States by market capitalization. The market cap of Equinix measured ***** billion U.S. dollars, about ** billion U.S. dollars higher than the second largest REIT Digital Realty. Over the past years, several notable acquisitions of data center REITs took place, including Blackstone's acquisition of QTS, KKR's acquisition of CyrusOne, and American Tower's acquisition of CoreSite.

Net-Income Time Series for Link Real Estate Investment Trust. Link Real Estate Investment Trust (Link REIT) is the largest REIT in Asia by many measures including asset value. Managed by Link Asset Management Limited (Link), a leading, independent and fully-integrated real estate investor and manager focusing on the APAC region, Link REIT has been entirely owned by independent investors since its listing in November 2005 as the first REIT in Hong Kong. After initially acquiring a portfolio of shopping centres and car parks in Hong Kong valued at around HK$33 billion at the time of its IPO, Link has grown and diversified the Link REIT's property portfolio. Today, the portfolio includes retail facilities, car parks, offices, and logistics assets which span Hong Kong, Mainland China, Australia, Singapore, and the UK, with a total valuation of around HK$226 billion (As at 31 March 2025). Link aims to further grow and diversify the Link REIT portfolio to continue delivering resilient returns and growth to Unitholders. Link REIT is a constituent of the Hong Kong securities market benchmark Hang Seng Index, as well as a component of the Dow Jones Sustainability Asia Pacific Index, the FTSE4Good Index Series and the Hang Seng Corporate Sustainability Index. Asset management, portfolio management and capital management are three pillars of our management strengths. We are committed to integrating Environment, Social and Governance (ESG) considerations into our strategy and daily operations.

According to Cognitive Market Research, the global Real Estate Investment Trust market size was USD xx million in 2024. It will expand at a compound annual growth rate (CAGR) of 3.60% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 1.8% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD XX million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.6% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.0% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.3% from 2024 to 2031.
The Equity REITs is the fastest growing segment of the Real Estate Investment Trust industry

Market Dynamics of Real Estate Investment Trust Market

Key Drivers for Real Estate Investment Trust Market

Increasing Stable Income Generation to Boost Market Growth: Real Estate Investment Trusts (REITs) are acknowledged for their solid earnings era, making them attractive to investors searching out regular coins to go with the flow. They derive profits frequently from rental bills on properties inclusive of industrial homes, flats, purchasing facilities, and more. REITs are required, with the aid of regulation, to distribute a minimum of 90% of their taxable income to shareholders as dividends, ensuring a dependable move of income. This regular dividend payout makes REITs mainly attractive to earnings-focused buyers, which includes retirees or those searching out passive profits, while additionally imparting potential for capital appreciation over time.

Increasing Demand for Real Estate to Drive Market Growth: The increasing demand for actual property is fueled by way of international population increase, urbanization, and monetary development. As more humans circulate to towns and economies make bigger, the want for residential, industrial, and business residences rises. This growing demand leads to higher property values and rental earnings, reaping rewards for Real Estate Investment Trusts (REITs). With an assorted portfolio across sectors like retail, office areas, and housing, REITs are nicely positioned to capitalize on those trends. As asset expenses and condominium quotes grow, REITs can generate better returns for traders via both capital appreciation and consistent dividend payouts.

Key Restraints for Real Estate Investment Trust Market

Interest Rate Sensitivity, will Limit Market Growth: REITs are rather touchy to interest rate fluctuations due to their reliance on borrowed capital for property acquisitions and development. When hobby quotes upward push, borrowing prices grow, lowering REITs' profitability. Higher hobby prices can also make alternative profits-producing investments, like bonds, extra attractive, probably mainly to lower the call for REIT shares. Additionally, growing costs may suppress property values, in addition to impacting REIT's overall performance. Conversely, while interest charges are low, REITs gain from cheaper borrowing charges and greater favorable situations for property investments, improving their capability to generate returns and keep robust dividend payouts for traders.

Key Trends for Real Estate Investment Trust Market

Expansion of Alternative Property Sectors: The REIT market is experiencing significant growth in alternative property sectors beyond the conventional offices and retail spaces. Specialized areas such as data centers, cell towers, healthcare facilities, and self-storage units are attracting investor interest due to their resilience and substantial demand. The surge in e-commerce has enhanced the performance of industrial and logistics REITs, while the aging population is propelling growth in senior housing and medical properties. Even niche sectors like farmland, timberlands, and infrastructure REITs are on the rise as investors pursue diversification. These alternative assets frequently offer high...

As of October 2024, the ten leading office real estate investment trusts (REITs) in the United States had a combined market capitalization of about ** billion U.S. dollars. All REITs in the list experienced a decrease in market capitalization in 2023. The largest office REIT, Boston Properties, Inc., saw its market cap increase from *** billion U.S. dollars to **** billion U.S. dollars between October 2023 and October 2024.

Renewable Infrastructure REIT Market Outlook

As per our latest research, the global Renewable Infrastructure REIT market size reached USD 19.7 billion in 2024, reflecting a strong upward trajectory driven by the rapid integration of sustainable energy assets into real estate investment structures. The market is anticipated to expand at a robust CAGR of 10.9% from 2025 to 2033, positioning the sector to achieve a forecasted market valuation of USD 51.6 billion by 2033. This impressive growth is primarily fueled by increasing investor appetite for green assets, policy mandates favoring decarbonization, and the rising need for diversified, stable, and inflation-hedged investment vehicles in the global financial ecosystem.

One of the most significant growth factors for the Renewable Infrastructure REIT market is the accelerating global transition toward renewable energy sources. Governments worldwide are enacting ambitious climate targets, such as net-zero emissions by 2050, which are driving unprecedented investments in solar, wind, hydroelectric, biomass, and geothermal infrastructure. The REIT structure offers a compelling mechanism for channeling large-scale capital into these projects while providing investors with liquidity, transparency, and regular income streams. Furthermore, institutional investors are increasingly integrating ESG (Environmental, Social, Governance) criteria into their portfolios, and renewable infrastructure REITs perfectly align with these objectives, fostering a virtuous cycle of capital inflow and asset development.

Another key driver is the evolution of financial markets and investor preferences. Traditional real estate investments are facing challenges due to urban saturation, shifting demographic trends, and changing work patterns post-pandemic. In contrast, renewable infrastructure assets offer stable, long-term cash flows underpinned by government-backed power purchase agreements and regulatory incentives. The REIT model lowers barriers to entry, enabling both institutional and retail investors to participate in the green energy transition without the complexities of direct project ownership. As a result, the market is witnessing the emergence of innovative REIT structures tailored to different risk appetites and asset classes, further broadening its appeal and supporting sustained growth.

Technological advancements and declining costs in renewable energy generation are also catalyzing market expansion. Breakthroughs in solar panel efficiency, wind turbine design, energy storage, and grid integration are enhancing the operational performance and profitability of renewable assets. This, in turn, improves the financial viability of REITs focused on these technologies. Additionally, digitalization and smart asset management platforms are enabling real-time monitoring, predictive maintenance, and optimization of energy yields, thereby increasing investor confidence and attracting new capital. As the renewable infrastructure landscape continues to mature, REITs are emerging as a preferred vehicle for aggregating, managing, and monetizing diverse portfolios of green assets.

Regionally, North America and Europe are leading the market, accounting for the majority of investments and asset deployments in 2024. North America, driven by the United StatesÂ’ robust REIT ecosystem and aggressive renewable energy targets, represents the largest market share. Europe follows closely, propelled by the European UnionÂ’s Green Deal and supportive regulatory frameworks. The Asia Pacific region is rapidly catching up, with China, Japan, and India scaling up renewable infrastructure investments and exploring REIT structures to mobilize domestic and international capital. Latin America and the Middle East & Africa are also witnessing growing interest, particularly in solar and wind projects, as governments seek to diversify their energy mix and attract foreign investment.

Asset Type Analysis

The Asset Type segment of the Renewable Infrastructure

As of December 2024, the ten leading industrial and logistics real estate investment trusts (REITs) in the United States had a combined market capitalization of about *** billion U.S. dollars. Three REITs in the list experienced a decrease in market capitalization in 2023. The largest industrial and logistics REIT, Prologis, saw its market cap increase from about ** billion U.S. dollars to approximately ** billion U.S. dollars between October 2023 and December 2024.The REITs sector declined in 2022 after the market cap reached a record high in 2021. Consequently, the year-to-date total returns for all property segments turned negative in 2022.

Cold Storage REIT Asset Management Platforms Market Outlook

According to our latest research, the Global Cold Storage REIT Asset Management Platforms market size was valued at $1.7 billion in 2024 and is projected to reach $4.9 billion by 2033, expanding at a robust CAGR of 12.3% during the forecast period of 2025 to 2033. One of the major factors fueling the growth of this market globally is the exponential rise in demand for cold storage facilities, driven by the booming pharmaceutical, food, and e-commerce sectors, which require sophisticated asset management solutions to optimize operations, ensure regulatory compliance, and maximize return on investment for investors and operators alike. As supply chains become increasingly complex and temperature-sensitive products dominate the market, the need for digital transformation and automation in cold storage asset management has never been more critical.

Regional Outlook

North America currently commands the largest share of the Cold Storage REIT Asset Management Platforms market, accounting for approximately 38% of the global market value in 2024. This dominance is attributed to the region's mature real estate investment trust (REIT) ecosystem, advanced technological infrastructure, and stringent regulatory frameworks that mandate transparency and efficiency in asset management. The United States, in particular, has witnessed significant investments in cold storage facilities due to the rapid expansion of online grocery delivery and pharmaceutical distribution networks. The widespread adoption of cloud-based asset management platforms among institutional investors and real estate companies has further propelled market growth in North America, as these stakeholders seek to optimize portfolio performance, minimize downtime, and ensure regulatory compliance.

The Asia Pacific region is emerging as the fastest-growing market for Cold Storage REIT Asset Management Platforms, with a projected CAGR of 15.8% between 2025 and 2033. This remarkable growth is driven by rapid urbanization, expanding middle-class populations, and the surge in demand for temperature-controlled logistics in countries such as China, India, and Southeast Asia. Governments across the region are incentivizing investments in cold chain infrastructure, and local REITs are increasingly seeking advanced digital platforms to manage their diversified portfolios. The influx of foreign direct investment and the proliferation of e-commerce giants have further accelerated the adoption of asset management solutions, making Asia Pacific a hotbed for innovation and strategic partnerships in this sector.

In emerging economies within Latin America and the Middle East & Africa, the adoption of Cold Storage REIT Asset Management Platforms is still at a nascent stage, primarily due to infrastructural constraints, limited digital literacy, and regulatory ambiguities. However, localized demand for temperature-sensitive goods, coupled with policy reforms aimed at improving food security and healthcare logistics, is gradually fostering interest among private equity firms and real estate developers. These regions face unique challenges such as high upfront costs, fragmented supply chains, and the need for customized solutions that can address diverse climatic and regulatory conditions. Nevertheless, as awareness grows and international players enter these markets, the potential for robust growth remains significant in the long term.

Report Scope

Stock Price Time Series for PRS Reit PLC. The PRS REIT plc is a closed-ended real estate investment trust established to invest in the Private Rented Sector (PRS) and to provide shareholders with an attractive level of income together with the potential for capital and income growth. The Company has invested over £1bn in a portfolio of high-quality homes for private rental across the regions, having raised a total of £0.56bn (gross) through its Initial Public Offering, on 31 May 2017 and subsequent fundraisings in February 2018 and September 2021. The UK Government's Homes England has supported the Company with direct investments. The Company is listed on the Closed-ended investment funds category of the FCA's Official List and its Ordinary Shares are traded on the London Stock Exchange's Main Market. It is a constituent of the FTSE 250 Index. With 5,478 new rental homes as at 30 June 2025, the Company believes its portfolio is the largest build-to-rent single-family rental portfolio in the UK.

Nippon Building Fund Inc was the real estate investment trust (REIT) with the largest market cap in Japan as of April 10, 2024. The market cap, or the aggregate value of the total outstanding shares of the company, was approximately *** billion U.S. dollars during that period. Nippon Building Fund also had the highest revenue, EBITDA margin, and the fourth-highest five-year return on investment (ROI) among all companies in the ranking. Nevertheless, KDX Realty Investment Corp topped the ranking in terms of dividend yield.

Hospitality REIT Market Outlook

According to our latest research, the global Hospitality REIT market size reached USD 97.6 billion in 2024, reflecting a robust foundation for continued expansion. The market is projected to grow at a CAGR of 7.2% from 2025 to 2033, with the forecasted market size expected to reach USD 183.2 billion by 2033. This impressive growth trajectory is driven by a resurgence in global travel, increased demand for diversified real estate investment vehicles, and the ongoing transformation of the hospitality sector through technology and evolving consumer preferences.

One of the primary growth factors propelling the Hospitality REIT market is the strong rebound in global tourism and business travel post-pandemic. As international borders reopen and travel restrictions ease, there is a marked increase in occupancy rates and average daily rates (ADR) across hotels, resorts, and serviced apartments. This resurgence is attracting both institutional and retail investors seeking stable, income-generating assets within the real estate sector. Furthermore, the hospitality industryÂ’s shift toward asset-light models, where operators focus on management and branding while REITs own the underlying assets, is further augmenting capital inflows into hospitality REITs. The growing preference for professionally managed, diversified portfolios is making Hospitality REITs an attractive choice for investors seeking exposure to the recovering travel and leisure sector.

Another significant driver for the Hospitality REIT market is the diversification of property types and geographic locations within REIT portfolios. Hospitality REITs are increasingly investing in a broad spectrum of assets, from urban business hotels to luxury resorts and extended-stay serviced apartments. This diversification strategy not only mitigates risks associated with market volatility in specific segments or regions but also enhances the potential for stable returns. The inclusion of alternative hospitality assets, such as boutique hotels and experiential resorts, is broadening the appeal of REITs to a wider investor base. Additionally, the integration of sustainability and ESG (Environmental, Social, and Governance) criteria into property selection and management practices is attracting socially conscious investors, further fueling market growth.

Technological advancements and digital transformation within the hospitality industry are also catalyzing the growth of the Hospitality REIT market. The adoption of smart building technologies, digital guest experiences, and data-driven asset management is enhancing operational efficiencies and guest satisfaction, leading to higher occupancy rates and improved profitability for REIT-owned properties. Moreover, the rise of online distribution channels and investment platforms is democratizing access to Hospitality REITs, making it easier for retail investors to participate alongside institutional players. The proliferation of fintech solutions and real estate crowdfunding is expected to further expand the investor base and drive liquidity in the market.

The concept of Hybrid Hospitality is gaining traction as a transformative trend within the hospitality industry. This innovative approach blends traditional hospitality services with flexible workspaces, catering to the evolving needs of modern travelers and remote workers. By integrating co-working spaces, meeting rooms, and leisure facilities, Hybrid Hospitality properties offer a versatile environment that supports both productivity and relaxation. This model is particularly appealing in urban centers where space is at a premium and the demand for multifunctional venues is high. As more travelers seek accommodations that support work-life balance, the Hybrid Hospitality trend is expected to drive significant investment and development opportunities within the Hospitality REIT market.

Regionally, North America continues to dominate the Hospitality REIT market, accounting for the largest share in 2024, followed by Europe and Asia Pacific. The United States, with its mature REIT regulatory framework and high concentration of institutional investors, remains the epicenter of hospitality REIT activity. However, emerging markets in Asia Pacific and the Middle East are experiencing rapid growth, fueled by increasing tourism, infrastructure development, and