The UK 's first social - housing orientated Real Estate Investment Trust ( trust ) , Civitas Social Housing , has been oversubscribed by £ 100 m , raising £ 350 m ahead of its planned floatation on the London Stock Exchange . Civitas aims to offer dividends of 5 % , while the remainder will be ploughed back into housing stock in England and Wales . The REIT has not been greeted warmly by the industry , which fears tough economic conditions could tie housing providers into 10 to 40-year agreements . Civitas says its plan will offer a " new source of funding " .
The UK's first social-housing orientated Real Estate Investment Trust (REIT), Civitas Social Housing, has been oversubscribed by £100m, raising £350m ahead of its planned floatation on the London Stock Exchange. Civitas aims to offer dividends of 5%, while the proceeds will be ploughed back into housing stock in England and Wales. The REIT has not been greeted warmly by the industry, which fears tough economic conditions could tie housing providers into 10 to 40-year agreements. Civitas says its plan will offer a "new source of funding".