Input sought on REIT framework

ISLAMABAD: 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 said on Monday.

The paper provides a glance at Real Estate Investment Trusts (REITs) Industry and covers proposed amendment(s) in the REITs regulatory framework, the regulator said.

The aim of proposed regulatory amendments was to introduce new REIT products, create ease for REIT management companies in launching different REIT schemes, and shift towards reporting based regime, it added.

REITs structure is new to Pakistan's market but in past two years, ten new REIT schemes have been launched in the country, eyeing huge potential for growth. According to SECP, national strategic projects having social and economic benefits can also be financed and executed through REITs structure. The concept paper is available at SECP's website.