The information was released by the Portuguese Presidency website, in a note mentioning that «the President of the Republic promulgated today (23rd of January) the government’s law which approves the regime for Real Estate Investment and Management Societies».
This decree was approved by the Council of Ministers on the 10th of January and it was sent directly to the Presidency of the Republic. When the law first made the news, APPII (Portuguese Association of Real Estate Investors and Developers) pronounced itself in favour of the new law, mentioning that this vehicle «channels international investment to the creation of further real estate offer, so needed in our country», considering also that this is «a proven case of success worldwide and that it represents a standardized and internationally accepted form of investment».