"Capital Smart City: Another master piece from the Capital Smart City launched one of its kind innovative & futuristic development - One Capital Residence." " "Nova City Islamabad has announced Nova City World - Overseas Block for its valuable customers. This state-of-the-art complex will offer luxurious modern amenities. " "Smart City has signed a MoU with Surbana Jorung. This will boast the position of Silicon Valley. " " Surbana Jorung will also design Cultural Village and some other miscellaneous projects" "RUDN Enclave: Development work in RUDN Enclave is on full swing. FWO also started construction of proposed Rawalpindi Ring Road." "Lahore Smart City’s new partnership with Galeria Designs, Raees Fahim, and Faisal Rasul. The future looks bright for Signature Villas!" "Dr Daniel been assigned the task of designing One Capital Residences would surely give birth to an aesthetic giant amidst the twin cities." "Alhamdolillah, with the grace of almighty Allah 2xHybird Double Decker Busses reached safely at Capital Smart City." "Capital Smart City has taken a pivotal step towards water filtration. This the filtration plant of capacity 4.5 Million Gallons per Day (MGD)."
April 21, 2021
SECP to reform regulatory framework for REITs

SECP to reform regulatory framework for REITS

Islamabad: Chairman of the Securities and Exchange Commission of Pakistan (SECP), Aamir Khan, has reaffirmed the resolve to reforming Pakistan’s Real Estate Investment Trusts (REITs) regulatory system.

The aim of the initiative was to move toward disclosure-based issuance, provide the necessary support for the growth of Real Estate Investment Trust (REIT) schemes, lower entry barriers, and draw PPP-based infrastructure projects to the REIT zone. Khan made his comments at a roundtable discussion on proposed changes to the REIT Regulations 2015.

On the occasion, a departmental presentation detailed the main changes proposed, including revamping the traditional REIT model, encouraging REITs to invest directly in real estate or through acquisitions in special-purpose firms, adding the idea of public-private partnership (PPP)-based capital ventures under the REIT umbrella, and more.

In addition, the regulatory changes make it easier for REITs by eliminating a variety of approval procedures and simplifying the conditions for submitting different papers. The presentation was accompanied by a lively debate that discussed the whole scope of REITs, as well as their regulatory and organizational structure.

Commissioner of the Specialised Companies Division Farrukh Sabzwari stated that the draft reforms were presented after an eight-month stakeholder consultation process. For both the traditional and infrastructure REIT models, the proposed amendments incorporate the plurality of recommendations made by stakeholders during the prior consultation process.

However, the SECP is open to any further feedback/improvements, which is why stakeholders can submit their comments during this final consultation round so that the rules can be considered and finalized as soon as possible.

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