Islamabad: The Islamabad Stock Exchange REIT Management Company (ISE REIT) has demanded separate regulatory authorities at federal and provincial levels to monitor the real estate sector and encourage construction activities across the country—a news source reported.
ISE REIT Board of Directors Chairman Zahid Latif Khan held a press conference where he highlighted the issues faced by the real estate investment trust (REIT) sector. He also proposed supportive framework for the development of REITs in the country, including the simplification of Securities and Exchange Commission laws, policy reforms and balanced tax approach to attract new investment in the property equity instruments.
Khan further said that there were only a handful of REIT companies in the country because of over-regulation and the lack of a conducive environment in this regard.
The ISE REIT was established as a Non-Banking Finance Company in January 2016 after a merger of Pakistan’s three stock exchanges.
