Investors who purchase the recently launched Fusion Capital D-REIT will not pay tax on their earnings. A letter from the Kenya Revenue Authority states Fusion Capital D-REIT, which is the first development REIT in Kenya, will be exempted from tax. Fusion Capital CEO Luke Kinoti says the exemption showcases the government’s willingness to champion the REIT model in the market. The listing of the Sh2.3 billion Fusion Capital D-REIT offer which opened up two weeks ago with some 100 million units going on sale at Sh23 each is set for July 28, 2016. The D-Reit opened at a price of Sh23 per unit, with Fusion aiming to raise Sh2.3 billion through the sale of 100 million units.

Source: The Star July 08, 2016 03:45 UTC