EPP advocates for real estate investment policy in Poland
JSE-listed EPP has urged the Polish government to introduce real estate investment trust (Reit) legislation for the country to make it more open for investment.
COO Rafał Kwiatkowski believes the Polish property sector could be an excellent avenue for creating wealth and would be a good vehicle for people to invest their retirement savings.
EPP is the largest owner of shopping centres in Poland, but has witnessed the benefits of Reit legislation in South Africa, which was promulgated in May 2013.
The South African listed property sector has seen market capitalisation soar over the past two decades, rising from roughly R6-billion in 2000 to R300-billion currently.
Today, there are 32 Reits for investors to choose from, including diversified, retail, residential, office and industrial and speciality Reits. An increasing number of these now have property holdings in international markets.
“Polish citizens cannot invest in Reits because there is no legislation allowing for it.
“This would be simple legislation for the government to pass and would have a positive effect on the economy, especially now that Poland has been rated among the most developed countries by ratings agency S&P for a full year and, like the rest of the world, will have to deal with the economic fallout from trade wars and slowdowns in neighbouring economies,” Kwiatkowski points out.
He adds that Poland is still among the nations that are best poised to avoid negative growth or a recession.
While the Polish government has room to make adjustments in debt levels and is taking actions to stimulate consumer spending, there is some simple legislation that would have a very positive effect that it could do right now – Reit legislation.
Reits offer a means for everyday investors to invest in commercial real estate. When an investor buys shares in a Reit, they are getting small portions of real estate held in a portfolio managed by a corporation that is publicly traded.
It allows investors to own a share in investment-grade properties on the same basis as if they had bought the properties directly, with the added benefit of value created through active, professional management.
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