Islamabad August 22 2022: The Securities and Exchange Commission of Pakistan (SECP) has published a concept paper titled “Review of Landscape & Revamping Framework-REITs” for soliciting public comments.
It provides a glance at Real Estate Investment Trusts (REITs) Industry and covers proposed amendment(s) in the REITs regulatory framework.
The aim of proposed regulatory amendments is to introduce new REIT products, create ease for REIT Management Companies in launching different REIT schemes, and shift towards reporting based regime.
REITs structure is new to Pakistan's market but in past two years, ten (10) new REIT Schemes have been launched in the country which shows huge potential for growth. National strategic projects having social and economic benefits can also be financed and executed through REITs Structure.
The concept paper, drafted after due consultation with stakeholders, can be accessed from SECP's website at https://www.secp.gov.pk/document/review-of-land-scape-revamping-framework-real-estate-investment-trusts-reits/?wpdmdl=45436&refresh=62ff93e4c28181660916708. Comments on proposed amendments in regulatory framework can be shared by September 2, 2022 at reitsfeedback@secp.gov.pk.
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