Key facts
- SA Reit Association mandates disclosure of prescribed terms in reporting.
- Non-compliance requires a stated reason.
- New rules aim to increase transparency and consistency.
- The goal is to boost investor confidence in the Reit sector.
The South African Reit Association has implemented new guidelines aimed at enhancing transparency and consistency in reporting for Real Estate Investment Trusts (REITs). According to Leon Kok, chair of the SA Reit Association's accounting and JSE committee, members are now required to disclose specific prescribed terms within their reporting recommendations. Failure to adhere to these terms necessitates providing a justifiable reason for non-compliance. This initiative is designed to bolster investor confidence in the South African Reit market by ensuring clearer and more reliable financial disclosures.