Johannesburg - South Africa is another step closer to a real estate investment trust (Reit) environment in the listed property sector with the JSE opening the public consultation process on the proposed changes to its listing requirements to allow for the creation of Reits.
This follows the publication of Reit tax legislation for South Africa in October, after more than six years of preparation by the listed property sector and the Treasury to introduce this internationally recognised structure in South Africa.
John Burke, a director of issuer regulation at the JSE, said on Friday the exchange welcomed the public consultation process and looked forward to receiving the views of the industry on the proposed changes to its listings requirements to allow for the creation of Reits.
Norbert Sasse, the chairman of the Property Loan Stock Association, said the public consultation on the JSE listing requirements for Reits was another essential aspect in the overall process of having Reits formally implemented in South Africa.
The proposed JSE listings requirements facilitating the creation of Reits are available on the JSE’s website, www.jse.co.za. – Roy Cokayne