Reit legislation coming to south africa next year

South Africa is set to receive new real estate investment trust (REIT) regulation next year, which will “bring SA listed property investment in line with international norms.”

The National Treasury “has committed a vast deal of time to understanding the listed property industry” according to REIT committee chairman of the Property Loan Stock Association (PLSA) Estienne de Klerk. The Treasury has stated the successful completion of REIT legislation is a priority and is intended to be finalised by the end of 012 or early 2013.

"The internationally recognised REIT (real estate investment trust legislation) structure exists in countries such as the US, Australia, Belgium, France, Hong Kong, Japan, Singapore and the UK,"de Klerk added. "Introducing the REIT structure will bring SA listed property investment in line with international norms."

Source: OPP.org.uk