ABAD considers corporatisation and REITs
Members of the Association of Builders and Developers of Pakistan (ABAD) are considering converting their businesses into corporate entities and registering Real Estate Investment Trusts (REITs). The development comes following an awareness session conducted by the Securities and Exchange Commission of Pakistan (SECP), the regulator said in a statement on Wednesday. SECP Commissioner Muzzafar…
The Association of Builders and Developers of Pakistan (ABAD) is contemplating two significant changes: transitioning their businesses into corporate entities and establishing Real Estate Investment Trusts (REITs). This move follows a recent awareness session organized by the Securities and Exchange Commission of Pakistan (SECP).
During the session, held at ABAD's headquarters, SECP Commissioner Muzzafar Ahmed Mirza provided insights into the commission's efforts to streamline business incorporation, enhance regulatory clarity, and motivate informal businesses to transition to formal corporate structures. ABAD's leadership, which includes Chairman Mohammed Hassan Bakshi and other key figures, expressed interest in these potential transformations.
They also agreed to collaborate with SECP in submitting recommendations for the real estate sector under the Companies Act, 2017.
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