18th January 2016
The BE-REIT Association is a professional association established as a non-profit organization under Belgian law (asbl/vzw). Its members are all companies that have the status of a Regulated Real Estate Company (Société Immobilière Réglementée or SIR/Gereglementeerde VastgoedVennootschap or GVV), also known as BE-REIT.
The newly created BE-REIT Association will provide a forum for developing and supporting all global initiatives of importance to the BE-REIT sector, such as the representation and promotion of its interests in all areas regarding their sector, the collection of knowledge and relevant industry information as well as training. As part of its mission, the association will interact with public institutions, professional associations and other players of the real estate sector at the local, regional, federal and international levels.
« We are very optimistic about opening a constructive dialogue between the BE-REIT sector and its stakeholders through the creation of this professional association," mentioned Laurent Carlier, Chairman of the BE-REIT Association.
The Belgian REIT sector consists of 17 listed operational real estate companies, owners of assets representing about 13 billion EUR. These companies provide their public or private tenants with global real estate solutions, including various services (new build, renovation, facility and property management, etc., following the tenant's needs).
The combined market capitalization of these companies represents about 9 billion EUR and their (in)direct shareholdering consists for a significant part of Belgian individuals next to Belgian and international institutional investors in search of a defensive investment generating relatively stable income.
With the objective of protecting the investors and taking into account their importance for the Belgian economy, BE-REITs are subject to a prudential supervision by the Belgian regulator (FSMA). They have to comply with various obligations as stated in the Law of 12 May 2014 (such as a mandatory payout ratio of 80%, a maximum debt ratio of 65%, diversification of assets, etc).
The BE-REIT status offers a liquid and diversified investment alternative to direct real estate that reflects the return profile of a direct real estate investment. Comparable REIT regimes already exist in numerous European countries (France, UK, Germany, The Netherlands, etc.) and others worldwide (US, etc.).
B-1050 Bruxelles
e-mail: info@be-reit.be
Laurent Carlier | Filip Van Zeebroeck | Mickaël Van den Hauwe |
Chairman | Secretary | Treasurer |
+ 32 (0)2 679 38 60 | +32 (0)3 222 94 94 | +32 (0)52 338 400 |
Qrf Comm. VA issued this content on 2016-01-19 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-19 13:43:05 UTC
Original Document: http://www.qrf.be/sites/default/files/2016-01-18 Press Release - Creation of the BE-REIT Association.pdf