In January of 2020, the Securities and Exchange Commission (SEC) issued the revised IRR of the REIT Act of 2009, clearing the hurdles for local developers to enter the REIT market. DoubleDragon has firmed up its plans to enter the REIT market to expand its presence in the provinces after realizing their potential for business continuity plans. “We believe that the REIT market will be the invisible hand that will guide the Philippine real estate market to develop into a more mature market, through transparency and competition,” said Zarcal. “REITs will pave the way for more real estate transparency in the coming years, providing reliable benchmarks that were not readily available in the Philippine real estate market historically,” says Sharon Roset-Saclolo, JLL Philippines’ director for Valuation and Advisory. JLL Philippines Country Head Christophe Vicic echoes the sentiment, saying “REITs should rapidly become a substantial alternative investment vehicle in the country’s real estate assets market.

Source: Manila Times August 24, 2020 16:11 UTC