Repeat seminar on REITs on 6 October

Wednesday, 30 September 2020 00:01 - - {{hitsCtrl.values.hits}}

Fresh event will shed additional insights to taxation, regulatory issues and investments

A repeat seminar on Sri Lanka Real Estate Investment Trusts (REITs) with an additional focus on tax, regulatory issues and investments will be held on 6 October at the Mövenpick Hotel Colombo 3 from 2.00 p.m. to 5.00 p.m.

The Securities and Exchange Commission (SEC) recently introduced a framework for Real Estate Investment Trusts (REITs), a long-recommended key investment opportunity that can be a catalyst for multiple benefits for the economy and the public.

In Sri Lanka, owing to spiralling property prices, it is a challenge for average citizens to finance real estate investments. Therefore, a significant proportion of the population of Sri Lanka is unable to benefit from the value appreciation of property and infrastructure development. The issue can be resolved by introducing a mechanism where capital is pooled by people who are willing to invest in prime commercial and residential property and they will benefit from property related income and value appreciation in the long term. Such pooled funds could be used to acquire prime residential and commercial property and income and wealth derived from such property is then shared with the unit holders of the fund.

Former SEC Chairman Dr. Dayanath Jayasuriya, P.C., SEC Corporate Affairs Director Dr. Harshana Suriyapperuma, and KPMG Principal (Tax and Regulatory Division) Suresh Perera will be speakers at the seminar. The discussion panel will be comprised of Colombo Stock Exchange Chief Executive Officer Rajeeva Bandaranaike, former SEC Director General Malik Cader, SEC Legal and Enforcement Director Ayanthi Abeywickrema, and Senfin Asset Management Director Ravi Abeysuriya. For further details please call Lara (077 0715595) / James (071 4725234).

Real Estate Investment Trusts open new avenue for capital investment

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