Foreign investors target Dutch listed real estate funds (NL)

Dutch real estate funds are expected to open up for foreign investors in 2007 and foreign investors will take this opportunity to strengthen their position in them. This is one of the conclusions of a report on the Eurpean Real Estate sector by Merrill Lynch.

Real Estate Funds mentioned include Rodamco Europe, Eurocommercial Properties, VastNed Offices and Wereldhave. The law that limits the number of shares of foreign investors in Dutch investment funds, now 25%, will probably be abrogated. Large Dutch law firms are receiving questions from investors about the new regime.

Lawyers expect a range of fiscal adjustments that will benefit real estate investment trusts (REITs). For example the equal treatment of listed and unlisted funds, making it easier for the latter to attract investments. Another adjustment is that real estate investment trusts will be allowed to develop real estate for their own portfolio. A reduction of dividend tax would make real estate investment funds more attractive for investors. The real estate firms mentioned above don't expect a big impact of the adjustment of legislation reveals the Dutch financial newspaper 'Het Financieele Dagblad' in an article.

Source: Het Financieele Dagblad

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