1st January 2007
|
REITs are launched in the UK
A number of property firms in the UK have achieved REIT status, following legislation which came into effect on Januaray 1st 2007.
The low-tax Reit model has been largely welcomed by the industry, with such groups as British Land, Land Securities, Primary Health Properties and Brixton all choosing to adopt the new status.
Stephen Hester, chief executive of British Land, said: "We are delighted to welcome Chris as our new chairman and fortunate to have his talent and experience.
"The company is well positioned and looking forward to the future with confidence."
In related news, experts believe that Alternative Investment Market-listed companies may be able to join the Reits scheme despite not being covered by current legislation.
|
|
