AYALA LAND, Inc. (ALI) may postpone its real estate investment trust (REIT) offering to next year, as it waits for the final guidelines to be released by the Securities and Exchange Commission (SEC). “If we can get it this year, or early next year, we’ll just adhere to the SEC timeline, which is really now about the release of the new guidelines,” ALI Chief Finance Officer Aug...
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The Securities and Exchange Commission (SEC) is lowering the minimum public ownership requirement for firms seeking to enlist using the Real Estate Investment Trust (REIT) framework in the proposed amendments to the law’s implementing rules and regulations (IRR). Among other changes to the IRR of Republic Act 9856, or the REIT Act of 2009 released for public comment, the SEC relaxed the p...
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Real Estate Investment Trusts (REITs) had been gaining propulsion globally for many years. Locally however, since the introduction of REITs a decade ago, industry players have yet to launch the first such offering to the public. Recently, there have been positive regulatory developments that are expected to provide an attractive landscape for potential players to proceed. While it is true that the...
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FOR more than two decades, many different versions of a proposed National Land Use Act (NLUA) have languished in Congress. I recall that even under the previous administration, the passage of the NLUA Bill was certified as urgent, but, until now, no version of the bill has been enacted into law. The call by President Rodrigo Duterte for Congress to pass the NLUA before the end of the year should p...
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The government is hastening the ongoing infrastructure development works at Sangley Airport in Cavite to meet its November deadline set by President Rodrigo Duterte. The project, according to the Transportation department, is now 95 percent complete and on track for its operational dry run on Tuesday next week. As of Oct. 24, completed works include the asphalt overlay and clearing of e...
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Metro Pacific Tollways Corp. (MPTC) plans to invest over P10 billion for the construction of a spur road that will connect the Manila-Cavite Expressway (Cavitex) to Danilo Atienza (Sangley) Air Base in line with the government’s initiative to start the commercial operation of the airport there this year. Rodrigo Franco, MPTC president, said the company is in talks with partner...
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