(To read more on the debt and equity markets, click here.)
CANNES-After months of drafts and revisions, the final wordingof legislation that would make REITs a reality in the UK is due outnext Wednesday during government's annual budget statement. Andwhile many parts of the proposed structure mirror the US REIT form,there are provisions not included in stateside structures thatcould seriously hobble UK REITs' effectiveness.
As GlobeSt.comreported this morning, much like their US counterparts, UKREITs would get an exemption from corporate tax on rental income orcapital gains as long as 95% of profits are directed toshareholders. Industry analysts suggest this could quadrupleBritain's quoted-property sector.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
