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Estate developers, pension trustees urge government to pass REIT bill

The Chief Executive Officer of Broll Ghana, Tony Sekyere, is calling on real estate developers and pension trustees to form an alliance to coerce government to pass into law the Real Estate Investment Trust bill.

According to him, the regulatory framework and the delay of its implementation has led to the country losing some foreign investments in the real estate sector.

Tony Sekyere made this call during a webinar themed “Adding Value to Pension Funds through Alternative Investments.”

“There has been a bit of lobbying in the background with respect to the REIT law that led to the Securities and Exchange Commission (SEC) pushing to set up another law or I would say REIT legislation right in 2018 such that it will pave the way for REITs –both foreign and local investors– that are looking to invest in property.”

“Unfortunately, this legislation is still in draft stage and it will take industry players and pension funds to be able to push or lobby to ensure that we’re able to get the successful passage of the current REIT legislation,” he said.

The Real Estate Investment Trust is regulated by SEC.

myjoyonline.com

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