The Property Council of Australia and the Australian Securities Exchange announced a change in the name of Australian REITs earlier this year. “A-REIT” has replaced “listed property trust” as the proper term for an Australian REIT. Property Council Chief Executive Peter Verwer said the move was made to boost the industry’s branding and promotional efforts.

“Australia is the world’s second largest REIT market, but foreign investors still ask, ‘What is an LPT?’,” Verwer said. “Re-branding is the smart move. There is wide industry support for LPTs to adopt the A-REIT brand to conform with established conventions.”

The new name is consistent with other foreign REIT regimes around the world, such as J-REITs in Japan and G-REITs in Germany.