QRF SICAFI CVA : co-founder of the BE-REIT Association

2afb28f3-d390-4a6f-a3a9-769d2229e44f.pdf Press Release

18th January 2016

CREATION OF THE BE-REIT ASSOCIATION

We are pleased to announce the creation of the BE-REIT Association. This professional association was founded by all Belgian Regulated Real Estate Companies (also known as Belgian Real Estate Investment Trusts). Its purpose is to represent and promote the interests of the Belgian REIT sector towards various stakeholders. This sector is represented by 17 publicly listed operational property companies that contribute to the economy whilst at the same time offering to investors an opportunity to invest indirectly in real estate through the stock market.

Background and mission

The BE-REIT Association is a professional association established as a non-profit organization under Belgian law (asbl/vzw). Its members are all companies that have the status of a Regulated Real Estate Company (Société Immobilière Réglementée or SIR/Gereglementeerde VastgoedVennootschap or GVV), also known as BE-REIT.

The newly created BE-REIT Association will provide a forum for developing and supporting all global initiatives of importance to the BE-REIT sector, such as the representation and promotion of its interests in all areas regarding their sector, the collection of knowledge and relevant industry information as well as training. As part of its mission, the association will interact with public institutions, professional associations and other players of the real estate sector at the local, regional, federal and international levels.

« We are very optimistic about opening a constructive dialogue between the BE-REIT sector and its stakeholders through the creation of this professional association," mentioned Laurent Carlier, Chairman of the BE-REIT Association.

Members

The Belgian REIT sector consists of 17 listed operational real estate companies, owners of assets representing about 13 billion EUR. These companies provide their public or private tenants with global real estate solutions, including various services (new build, renovation, facility and property management, etc., following the tenant's needs).

The combined market capitalization of these companies represents about 9 billion EUR and their (in)direct shareholdering consists for a significant part of Belgian individuals next to Belgian and international institutional investors in search of a defensive investment generating relatively stable income.

Belgian REIT regime

With the objective of protecting the investors and taking into account their importance for the Belgian economy, BE-REITs are subject to a prudential supervision by the Belgian regulator (FSMA). They have to comply with various obligations as stated in the Law of 12 May 2014 (such as a mandatory payout ratio of 80%, a maximum debt ratio of 65%, diversification of assets, etc).

The BE-REIT status offers a liquid and diversified investment alternative to direct real estate that reflects the return profile of a direct real estate investment. Comparable REIT regimes already exist in numerous European countries (France, UK, Germany, The Netherlands, etc.) and others worldwide (US, etc.).

Members of the BE-REIT Association

For more information, please contact:

BE-REIT Association (p/a Citco Belgium sa) Avenue Louise 331-333

B-1050 Bruxelles

e-mail: [e-mail]

Laurent Carlier	Filip Van Zeebroeck	Mickaël Van den Hauwe
Chairman	Secretary	Treasurer
+ 32 (0)2 679 38 60	[phone]	[phone]