Can property investment funds be exempt from VAT?

https://www.google.com/url?rct=j&sa=t&url=http://www.thelawyer.com/briefings/can-property-investment-funds-be-exempt-from-vat/3035535.article&ct=ga&cd=CAIyGmJjNGEwZWQ4N2QyMGU3Nzg6Y29tOmVuOlVT&usg=AFQjCNG3qf4A0NaGN-CFqqoXVdgm8KqldA

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