Regulatory Alerts2022-11-29
Added · Updated
Real Estate Investment Trust Regulations, 2022
The Securities and Exchange Commission of Pakistan establishes the Real Estate Investment Trust Regulations, 2022, to govern the structure, launch, and management of REIT schemes. The regulations mandate a minimum paid-up capital of fifty million rupees for Real Estate Management Companies and define specific eligibility criteria for accredited investors, including a five million rupee asset threshold for individuals. They prescribe detailed procedures for capital injection, the transfer of real estate or Special Purpose Vehicle shares to trustees within 120 days, and the requirements for public offering and listing of units within three years. The framework also outlines obligations for trustees, valuers, and Shariah advisors, along with disclosure requirements for information memorandums and prospectuses.