The market capitalisation of European real estate investment trusts (REITs) is set to triple to EUR 585 bn by 2011, according to Nick van Ommen, ceo of the European association of listed companies EPRA . Speaking at a conference on 'REITs, the new global emerging asset class' at the Expo Real trade fair in Munich on Monday, Van Ommen said the introduction of the UK and German REITs in 2007 will have a 'snowball effect' on other European countries. 'Europe has traditionally lagged behind the US and Asia. But the UK and German REITs are changing the face of the European market,' he said. 'Other countries will follow.'