ADVOKS GLOBAL · KENYA
The Capital Markets (Real Estate Investment Trusts) (Collective Investment Schemes) Regulations
69. I-REIT income requirement
Edition: 2023-10-06 · In force
69. I-REIT income requirement
(1)An I-REIT shall in each financial year alter the second anniversary of its authorization, earn at least seventy percent of its income from rent, licence fees or access or usage rights or other income streams of a similar nature generated by eligible investments in income producing real estate.(2)Any profits or capital gains from the sale of real estate shall be excluded in determining the income under paragraph (1).(3)An I-REIT shall not be in breach of the income requirements under paragraph (1) if the I-REIT disposes off a real estate asset that has been an asset of the real estate investment trust for at least three years and—(a)reinvests the funds received from disposal of the income producing real estate assets within a period of two years from the completion of the disposition; or(b)makes a distribution to REIT securities holders to reduce its assets.