Units of GRR’s investors not kept in blocked accounts

MG News | December 30, 2022 at 04:04 PM GMT+05:00

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December 30, 2022 (MLN): In line with the regulations of the Real Estate Investment Trust Regulations 2022, after the listing of units of Globe Residency REIT (GRR), the units of investors of GRR are not kept in blocked accounts, Arif Habib Dolmen REIT Management Limited informed through a notification to exchange.

"An RMC shall hold or arrange through Strategic Investor(s), a minimum twenty-five (25) percent Units of the initial size of the REIT Fund (equity only), till revocation of the fund or listing of REIT Scheme, whichever is earlier and the same shall be kept in an account marked as blocked and shall not be sold, transferred or encumbered," Real Estate Investment Trust Regulations 2022 read.

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