[Table of Contents and Introduction / Salient Points; Rules 1-3; Rule 4; Rule 5; Rule 6; Rule 7; Rule 8; Rule 9; Rules 10-11]

Rule 5 – Allowable Investments of the REIT 

SEC. 1. Allowable Investments. A REIT may only invest in: 

1.1 Real estate. 

a. A REIT may invest in real estate located in the Philippines, whether freehold or leasehold. At least seventy-five percent (75%) of the Deposited Property of the REIT shall be invested in, or consist of, income generating real estate. Deposited Property that should be invested in Income-generating Real Estate located in the Philippines shall in no case be less than 35% of the Deposited Property. 

[Table of Contents and Introduction / Salient Points; Rules 1-3; Rule 4; Rule 5; Rule 6; Rule 7; Rule 8; Rule 9; Rules 10-11]

Rule 9 – Property Valuer 

SEC. 1. Appointment of an Independent Property Valuer. A REIT shall appoint a duly accredited independent Property Valuer to prepare a full valuation of a REIT’s assets at least once a year in accordance with the applicable rules of asset valuation and valuation methodology prescribed by the Commission. 

[Table of Contents and Introduction / Salient Points; Rules 1-3; Rule 4; Rule 5; Rule 6; Rule 7; Rule 8; Rule 9; Rules 10-11]

Rule 10 – Taxes 

SEC. 1. Compliance with BIR Regulations. The provisions on taxation of REITs provided under the REIT Act shall be subject to the relevant regulations promulgated by the BIR.