German REITs legislation has today been signed by the German president with the law effective retrospectively from January 1 2007.
The move follows ratification of the G-REIT Law by the German Parliament in March this year.
Dave Butler, programme coordinator for UK REIT promotional body Reita, comments: “The final hurdle in the way for REITs (or G-Reits as they are helpfully referred to) to come to market in Germany has been cleared.
“The introduction of the G-REIT should encourage the creation of a significant listed German property sector and will have a number of advantages: it will speed the transfer of property from German corporate ownership, helping the restructuring of German industry; it will open the way for institutional investors to restructure their portfolios and it will provide an exit for the Open-Ended and Closed-Ended funds.”IFAonline
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