‘Modified’ REIT stimulates interest
Other property firms recognise potential
Royal Orchid Hotel Thailand (ROH) was the first Stock Exchange of Thailand-listed tourism-related company to seek approval from the Securities and Exchange Commission (SEC) to set up a real estate investment trust (REIT) with a buy-back condition, a new kind of REIT launched by the SEC to help real estate operators boost liquidity amidst the pandemic.
Jomkwan Kongsakul, assistant secretary-general of the SEC, said a REIT with a buy-back condition is designed to assist real estate and hotel businesses that are experiencing liquidity crises caused by the pandemic. It was approved by the SEC’s board of directors on Feb 1.
According to the SEC, the buy-back condition will allow real estate companies to buy back their properties or assets…
