The European property industry has pulled together to seek the creation of a legislative framework for an EU REIT that can provide Europeans with the most efficient, innovative and wealth creating property market in the world.
The European property industry has pulled together to seek the creation of a legislative framework for an EU REIT that can provide Europeans with the most efficient, innovative and wealth creating property market in the world.
The EU REIT Coalition comprises the European Landowners' Organization (ELO), the European Property Federation (EPF), the Royal Institution of Chartered Surveyors (RICS), the European Group of Valuers' Associations (TEGoVA) and the Urban Land Institute Europe (ULI Europe).
The implementation of an EU REIT is on the agenda at a symposium to be held November 7 at Barcelona Meeting Point. The session, which will include a panel discussion, will be opened by Joaquim Ribeiro, head of finance at Sonae Sierra and chairman of the EU REIT Coalition.
EPF Director General Michael MacBrien is slated to explain why the time is right for the European property industry to seek an EU legislative framework while Piet Eichholtz, a professor of real estate finance at Maastricht University, will discuss the preferred structure for the EU REIT. Eichholtz will also present his research team’s findings on how an EU REIT structure will help solve current problems like distorted competition, adverse effects on investment performance, disadvantages to small member states and poor allocation of capital.
