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Real Estate Investment Trusts (REITs) were first introduced in the United States (US) in 1960, with the legislation amended over time until in 1976 the …

This report explores specific case studies (Nigeria, Ghana, South Africa, Tanzania, Kenya,Rwanda and Morocco) to understand the implementation of various residential REIT frameworks throughout Africa. This informs critical enabling conditions for REITs in Africa, the challenges faced by residential REITs in this context, and potential approaches to increasing the financial viability of African affordable housing REITs.

This report, which makes up the background review of the REIT concept and defines the characteristics and investor benefits of REITs in general and experiences of developed markets with affordable housing REITs. This background review conceptualises Real Estate Investment Trusts (REITs), specifically residential REITs and identifies the development potential of REITs.