Philippines Lagging Behind In REIT Issuance (The Manila Times)

THE Philippines is lagging behind among its Southeast Asian neighbors in terms of real estate investment trust (REIT) issuances, Philstocks Financial Inc. said.

“We are last in the Southeast Asia to [list] REIT,” Philstocks analyst Piper Chaucer Tan said in a media briefing last week in Manila.

He said that Indonesia, Malaysia, Singapore, Hong Kong and Thailand have already participated in the REIT market.

The rules and guidelines on REITs are expected to be released this year, the Securities and Exchange Commission earlier said, after a decade of discussion on key terms.

So far, regulators approved the tax-free transfer of assets, reduction of minimum public ownership to 33 percent, and participation of insurance firms and pre-need companies.

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