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Tuesday, 16 April 2013 07:29

Kenya’s Capital Market Authority / CMA is considering allowing REITs that pay-out 80% of profits as dividends each year, and which allow foreign investors through direct foreign investments to increase the pool of capital available for real estate developers. Unlike most other countries the model being considered is a hybrid comprising “Income” & “Development” REITs, the latter of which will only be made available to professional investors whose minimum investment per share would be Sh5m / USD$60k with each REIT required to have a trustee & manager licensed by the CMA. The ball is now in the Kenya Revenue Authority / KRA’s court to allow fiscal incentives from the government to gets things off the ground.

Last Updated on Tuesday, 16 April 2013 08:01