SECP Opens Public Consultation On Major Revamping Of REIT Regulations

SECP opens public consultation on major revamping of REIT regulations

The Securities and Exchange Commission of Pakistan (SECP) Thursday initiated final round of public consultation on draft amendments to the Real Estate Investment Trust Regulations, 2015

ISLAMABAD, (UrduPoint / Pakistan Point News - 8th Apr, 2021 ) :The Securities and Exchange Commission of Pakistan (SECP) Thursday initiated final round of public consultation on draft amendments to the Real Estate Investment Trust Regulations, 2015.

The proposed amendments aim to provide much-needed stimulus for developing Pakistan's formal real estate sector through the REIT model, by creating further flexibility, efficiency and ease of doing business, said a press release issued here.

The amendments propose elimination of key hindrances highlighted by players and investors of the real estate sector.

In addition to a major revamp of the conventional REIT model (rental, hybrid and developmental), the amendments are expected to provide viable capital market-oriented investment and financing solutions for the ever-growing infrastructure demand of the country.

A complete model enabling launch of REITs for public private partnership (PPP) based infrastructure projects is hence introduced under the REIT umbrella.

Notification for the draft amendments is placed on the SECP website inviting comments from the public within a fourteen-day period.

It is expected that once promulgated, the amendments would usher a growth in the REIT sector and the PPP infrastructure space. The SECP also plans to hold a virtual session to answer questions and provide clarifications with regards to these proposals in due course.