The Securities and Exchange Commission of Pakistan (SECP) Chairman met a delegation of ISE Towers REIT Management Company Limited (ISE REIT) led by Zahid Latif Khan, the ISE REIT chairman. The meeting deliberated upon a number of measures for the development of Real Estate Investment Trusts (REITs). These included measures for ease of doing business, reducing cost of doing business, regulatory and taxation reforms etc.
The meeting discussed issues related to cost associated with transfer of property to REIT scheme, permissible businesses, listing requirements, tax on dividend from REIT scheme and capital gain tax. The chairman, Farrukh Sabzwari, welcomed the suggestions of the delegation and assured them of the SECP’s full support in addressing practical issues that may hamper the growth of REITs in the country.
