In a meeting on Nov. 25, the Commission En Banc resolved to render effective 16 registration statements covering 2,382 certificates of participation, subject to SLI’s fulfilment of remaining regulatory requirements.
Approved under SEC RENT guidelines:
Projects across Luzon, Visayas and Mindanao
Fifteen of the projects included in SLI’s rental pool program are located in Quezon City, Baguio, Rizal, Cavite, Batangas, Palawan, Iloilo, Cebu, and Davao, all of which have been operational since at least 2011.
One Cebu development is still under construction and is slated for completion by 2027.
Up to P60.3M in potential gross proceeds
The rental pool offering is expected to generate as much as P60.31 million, based on remaining unsold inventory. Proceeds will support the company’s working capital requirements for 2025 and 2026.
Under the arrangement, holders of participation certificates are entitled to:
Registration process simplified
Implemented via SEC Memorandum Circular No. 12, Series of 2024, the SEC RENT program simplifies the registration of securities of real estate firms offering investment contracts through rental pool agreements.
Rental pool deals involve buyers contributing their units to a centrally managed pool—operated either by the developer or a third-party operator—and receiving a corresponding share of the profits generated from leasing the units to paying guests. —Ed: Corrie S. Narisma
