|Screengrab from Youtube|
We were given the opportunity to attend the event through Real Estate Brokers Association of the Philippines (REBAP) - National Chapter on that occasion of their 3rd National General Membership Meeting on which took place Wack Wack Golf and Country Club in Mandaluyong City.
The invited guest speaker then was Mr. Jaime Ysmael, Senior Vice President and of Ayala Land Inc the and now Chairman and President of Ortigas and Company (OCLP Holdings, Inc.).
However, REIT law's Implementing with rules and regulation was plagued with problem on the implementation on how this investment will work and it took almost a decade to figure this will work with the expectation of the investing public with different real estate asset and investment management that are pre-positioning themselves as the leaders in this new industry with the likes of Ayala Land, Robinsons Land Corp, SM Development Corporation, Century Properties and Double Dragon just to name the few big companies interested in trying out the REIT landscape.
Recent showed that the SEC was working out the public ownership of REIT products from 33% to 67% which is favorable to the investing public and it looked upon with high hopes for this year, 2020 on the start of REIT investment with the potential growth with local markets.
Let's see what further developments awaits us with REIT as a new investment product in the market in the coming weeks.
Republic Act 9856 - Real Estate Investment Trust Act of 2009 https://bit.ly/2tFKNg6
Implementing Rules and Regulation of RA 9856 https://bit.ly/2sT87XQ
REIT expected to finalize take off this year https://bit.ly/2ZSfydP
Property shares to lead market https://bit.ly/35tmhMg
About the Writer
CRB Benedict Baluyut is a professional real estate broker, real estate appraiser and associate of C. F. Baluyut Realty. He is currently the Vice President for External Affairs, Real Estate Brokers Association of the Philippines, Inc. (REBAP) - Pampanga Chapter. You can get in touch with him at https://www.cfbaluyutrealty.com.
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