HA NOI (VNS) — Property assets can now be used as capital contribution to found or raise charter capital of real estate investment trusts (REITs).
According to Decree 60/2015/ND-CP, which replaced Decree 58/2012/ND-CP, the evaluation of property assets must be carried out by two independent organisations.
The value of the property assets contributed as capital to REITs must be agreed upon by the trust's investors and founders.
In case, the property assets were evaluated higher than its market value, the concerned investors would be responsible for the price difference, the new decree said. — VNS