search_api_autocomplete
Home

Participation of a regulated real estate investment company in specialised property investment funds

News article

The principal activity of a regulated real estate investment company (GVV/SIR) is making properties available to occupants. This is an operational activity and not an investment activity.

The question therefore arose as to whether the units held by a GVV/SIR in entities that are not AIFs within the meaning of the AIFM Directive but explicitly opted for the status of specialised property investment fund, could still qualify as shares or units with voting rights issued by real estate investment companies. In that case, these participations would not be limited by the 20% threshold provided for in Article 7, § 1, b) of the GVV/SIR Law.

Read more in FSMA_Opinion_2022_03 (available in French - Dutch only)