It’s time to promote the development of REITs: association

It was necessary to improve the legal framework for REITs so that investors could feel secure in investing. — VNA/VNS Photo Viet Nam needs to improve the legal framework to promote the development of real estate investment trusts (REITs) to add capital to the property market while bank credit and corporate bond issuance were being tightened. According to the Viet Nam Association of Realtors, property developers mainly raised capital from stakeholders, bank credit and corporate bond issuance. The tightening of bank credit and corporate bond issuance would force them to look for alternatives and REITs were predicted to become more popular as a capital raising channel for developers, the association said. REIT was a form of capital contribution for one or a porfolio of real estate projects, real estate enterprises by individuals and organisations through the buying of shares or fund certificates and getting returns based on the performance of the real estate projects or businesses. The association said that REIT would help promote healthy development of the real estate market naturally, adding that projects with high potential would attract cash flow from REITs. For individual investors, REIT certificates were a safe investment. The US REIT market reached $1.3 trillion,… Read full this story

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