Saturday Dec 14, 2024
Saturday Dec 14, 2024
Monday, 24 August 2020 00:00 - - {{hitsCtrl.values.hits}}
The Securities and Exchange Commission (SEC) last week 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.
Against this backdrop, the Asia Pathfinder Legal Consultancy and Drafting Services, an institution acclaimed for organising awareness building programs on timely issues, is conducting a seminar on Sri Lanka Real Estate Investment Trusts (REITs) on 17 September, at the Hotel Movenpick, from 2 p.m. to 5 p.m.
Securities and Exchange Commission of Sri Lanka Chairman Viraj Dayaratne P.C. will be delivering the keynote address of the seminar. Dr. Dayanath Jayasuriya, PC (former SEC Chairman), Ayanthi Abeywickrema (SEC Director, Legal and Enforcement), and Dr. Harshana Suriyapperuma (SEC Director, Corporate Affairs) will be speaking at the seminar.
The discussion panel will comprise Colombo Stock Exchange CEO Rajeeva Bandaranaike, former SEC Director General Malik Cader, Senfin Asset Management Director Ravi Abeysuriya and KPMG Principal, Tax and Regulatory Division Suresh Perera.
For further details please call Lara (077 0715595)/James (071 472 5234).
