Key Takeaways
- SECP briefed members of the Association of Builders and Developers on company registration.
- The benefits include improved access to financing and stronger corporate structure.
- ABAD will consider registering its businesses and exploring Real Estate Investment Trusts.
The Securities and Exchange Commission of Pakistan (SECP) has urged builders and developers to register their businesses as formally registered companies, highlighting the potential benefits of such registration.
During a session with members of the Association of Builders and Developers (ABAD), SECP Commissioner Muzaffar Ahmed Mirza emphasized the importance of formal registration, noting that it can enhance access to financing and strengthen corporate structures.
Commissioner Mirza provided a practical demonstration of the SECP’s eZfile portal, explaining how businesses can use the digital platform to complete the registration process.
ABAD members are now considering registering their businesses as companies and exploring the possibility of registering Real Estate Investment Trusts (REITs), which can provide additional financial benefits.
The SECP’s initiative aims to improve the overall corporate governance and financial health of the construction sector in Pakistan.
By registering as formal companies, builders and developers can tap into a wider range of financial services and investment opportunities, potentially boosting their business growth.
The move is part of a broader effort by the SECP to modernize and regulate the construction industry, ensuring transparency and accountability in real estate transactions.
ABAD will submit proposals related to the real estate sector to the SECP for consideration, aiming to address key issues and improve the regulatory environment for the industry.
