masoud rouhollah

This study aimed to identify, extract, and classify the factors and requisites influencing the development of Real Estate Investment Trusts (REITs) using a qualitative research method. A systematic review was conducted, examining 1,869 relevant studies published over 23 years (2000-2023). After applying various filters, 91 studies most closely aligned with the objectives were selected for final analysis. The factors and requisites for REIT development were then classified into 4 overarching and 12 organizing themes. The findings indicated that the factors and requisites for REIT development could be analyzed across 4 broad categories: functional, supervisory and supportive, infrastructural, and structural and governance. The functional aspects included attention to financial and economic indicators, operational processes, investment principles, and risk management. The supervisory and supportive aspects covered legislation, policymaking, and regulatory frameworks. The infrastructural aspects encompassed cultural, educational, innovative, and technological dimensions. The structural and governance aspects involved monitoring of managers, investors, and corporate governance. The use of the meta-synthesis approach in this research ensured a comprehensive and holistic review of both domestic and international studies in this field, facilitating the identification and categorization of the multifaceted dimensions influencing REIT development.