On October 11, 2010, the Securities and Exchange Commission of Thailand (SEC) approved the regulatory framework for establishing real estate investment trusts (REITs) in Thailand. The evolution of real property financing in Thailand—from primarily bank loans to the rigid Property Fund for Public Offering (PFPO) to the proposed REIT—reflects the liberalization of the Thai market, the need for alternative funding options in the wake of the recovery of Thailand’s property sector, and the need for Thailand to maintain its regional competitiveness. This article is a primer for investors, developers, and other stakeholders on the upcoming REIT in Thailand.