Islamabad: The Securities and Exchange Commission of Pakistan (SECP) has proposed new regulatory amendments to the Real Estate Investment Trusts (REITs) investment mechanism, news sources reported on August 23.
As per a recently-published concept paper ‘Review of Landscape and Revamping Framework’, the commission proposed new regulations to manage the new REIT companies, their shares and asset management. In addition to this, the new regulations would be responsible for:
SECP has sought comments on the detailed concept paper on the new regulatory framework, which is available on the commission’s official website . The paper includes an overview of the real estate investment trust business and potential regulatory changes.
It should be noted that the REIT business is very new to the Pakistani market. However, ten new REIT schemes have been created in Pakistan in the last two years. SECP recently assigned a separate category to REITs on the Pakistan Stock Exchange (PSX) trading board.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
