Britain's Land Securities and Slough Estates have confirmed that they are to begin the process of converting to real estate investment trusts (REITs) on 1 January 2007. Under the REIT system, real estate companies will pay far less tax on condition that most of the profit is paid out to shareholders in the form of dividend.
Private asset management company Kryalos has completed the acquisition of a light industrial property in Rome, through its Mars fund.
