Property investors seek stamp duty relief for Reits

Real estate market players in Kenya are urging the government to reinstate the stamp duty exemption for Real Estate Investment Trusts (Reits) transfers to enhance interest in alternative property investment channels. Geoffrey Odundo, Chairman of the REITs Association of Kenya, emphasized that stamp duty has been a barrier to the industry. Reits, which have seen their market capitalization nearly triple to Sh24.6 billion, are viewed as an efficient way to democratize property ownership.