BusinessWorld | Philippines could be next property ‘blockbuster’

Changes in Republic Act No. 9856, or the Real Estate Investment Trust Act of 2009, may unlock the value of the real estate sector, Philippine Stock Exchange Chief Operating Officer Roel A. Refran said in the same event.Nearly six years since the REIT law lapsed into law in December 2009, none of the major developers have come forward with their respective offerings because of contentious issues on ownership and taxation of asset transfers.

Source: BusinessWorld | Philippines could be next property ‘blockbuster’

Legal Notes: That is because, this law was not meant to be ‘social’, it is not meant for the values of a true Filipino but for the elite ones only. Just our 2 cents.

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