Thai Reits face tough start as tax rules hurt prospects
Thailand’s attempts to introduce real estate investment trusts have taken another hit after the property arm of conglomerate Charoen Pokphand Group announced plans for a Bt10bn ($318m) property fund. CP Land’s decision to press ahead with a fund listing is just one of many setbacks for the country’s regulators, who are looking to replace property funds with Reits by 2014, writes Rev Hui.
First announced in 2010, the introduction of Reits is seen by Thailand’s Securities and Exchange Commission as an opportunity to smarten up its regulatory system and bring it more into line with international standards — allowing it to compete better with regional rivals.
Thailand’s property funds were never
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