Industry association South African Real Estate Investment Trust (SA Reit) has published a draft second edition of its best practice recommendations (BPR) for public comment.
The process of updating the recommendations, which is the accepted standard for reporting key metrics consistently to make the analysis and comparison of different South African real estate investment trusts easier, began in August 2018.
The draft second edition BPR was compiled with input from 95 individual submissions, including from stakeholders such as the JSE Committee, sector analysts, auditing firms, the association’s member companies and corporate advisers.
SA Reit first published its BPR in 2016 to make financial reporting of South African real estate investment trusts more transparent and improve their comparability.
This edition of the BPR introduces branded SA Reit supplemental financial performance measures, such as an SA Reit distribution per share.
The deadline for submissions is May 3.
JSE Committee chairperson Bram Goossens expects the BPR to be finalised within three months of the deadline for the submission of comments.
The BPR will be effective for financial year-ends starting on or after January 1, 2020.