City firms well placed to cash in on launch of real estate investment trusts

Middleton, David
December 2005
Lawyer;12/12/2005, Vol. 19 Issue 48, p2
Trade Publication
This article reports that real estate companies in Great Britain expect to reap immediate rewards once real estate investment trusts are introduced in the middle of the year 2006. Property lawyers have praised the confirmation of the introduction of real estate investment trusts (Reits). Reits will abolish corporation tax in exchange of distributing 95 percent of income to shareholders. They will initially benefit only listed property companies that are based in Great Britain. Robert Kidby, head of real estate at the company Lovells, said that there are only about 10 or so big property companies that would immediately be in a position to take advantage of this law.


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