Real Estate Investment Trusts in Israel
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Real Estate Investment Trusts in Israel began January 2006, with Amendment 147 of the Income Tax Law.
Real Estate Trusts in Israel Legal Requirements
Israeli REITs must be incorporated in Israel, and controlled and managed in Israel. Shares must be listed on the Tel Aviv Stock within twelve months of incorporation.
At least 75% of its assets must be profitable real estate investments. This must consist of at least 200 million NIS, and at least 75% of that must be invested in real estate located in Israel.
At least 90% of income must be distributed to shareholders on an annual basis, by April 30 of every year. Ownership of REIT shares must be so distributed that under 50% is owned by four or fewer investors. Leverage (debt or gearing) is limited to 60% of total real estate property assets.
The first REIT in Israel to launch was called simply REIT 1, in 2006, from Excellence Nessuah.
Real Estate Trusts in Israel:
- REIT 1
Hopefully, more there'll soon be more Real Estate Investment Trusts in Israel.
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