The SA REIT (Real Estate Investment Trust) sector is updating its best practice recommendations to make financial reporting of South African REITs even clearer and more comparable.
Our members have expressed a growing concern that more needs to be done to ensure consistency in reporting and to address the perceived lack of transparency among several real estate counters. Our sector prizes the track record of transparency and trust it has built overall, and the move to revise the SA REIT BPR reinforces this
Izak Petersen, Chairman of the SA REIT Association
Because of the sector’s significant investment offshore in the past three years, and other changes since the first BPR was published, the time is right to take the next step and issue more robust guidance for REITs.
Bram Goossens, Chairman of the Tax and JSE Committee of the SA REIT Association