ISLAMABAD, Aug 23(ABC): The Securities and Exchange Commission of Pakistan (SECP) has published a concept paper titled “Review of Landscape and Revamping Framework-REITs” for soliciting public comments.
It provided a glance at Real Estate Investment Trusts (REITs) Industry and covered proposed amendment(s) in the REITs regulatory framework, said a press release issued here.
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 said.
REITs structure was new to Pakistan s market, but in the past two years ten new REIT schemes had been launched in the country which showed huge potential for growth, SECP said.
National strategic projects having social and economic benefits could also be financed and executed through REITs structure, the press release said.
The concept paper, drafted after due consultation