28 August 2008
Johannesburg — PROMINENT listed property player Brian Azizollahoff will focus on the challenges facing SA's listed property sector in its transition to the international real estate investment trust (Reit) structure in SA at the Real Estate Investment World Africa 2008 conference.
The conference takes place from Tuesday to Friday next week at the Sandton Convention Centre.
Azizollahoff, CEO of listed property company Redefine Income Fund, has played a key role in the move to adopt the best-of-breed Reit structure in SA. Reits, which originated in the US, are the preferred listed property structures globally, and have been adopted by most first-world markets.
"The concept of Reits has been embraced by both national treasury, as well as the property sector as a whole," Azizollahoff says. "A great deal of effort has been expended in making the introduction of Reit legislation a reality.
"However, due to a further delay on the part of the government in respect of the response document - which answers comments received from the industry on the discussion paper previously circulated - the process has been set back and will probably only see the light of day somewhere around the early part of 2010."
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