New Real Estate Securitization Law Unveiled

September 02, 2003 | BY

clpstaff &clp articles

By Vincent Hsieh and Erik Chen, Winkler Partners, TaipeiOn July 10 2003, Taiwan's Legislature passed in special session the long-awaited Real Estate Securitization…

By Vincent Hsieh and Erik Chen, Winkler Partners, Taipei

On July 10 2003, Taiwan's Legislature passed in special session the long-awaited Real Estate Securitization Law (the Law). The Ministry of Finance has completed draft implementation rules to the Law that should be promulgated in late November; thereafter, the effective date of the Law will be determined.

Government officials and investors hope that the Law will increase liquidity in the moribund property sector, boost institutional investment, assist over-leveraged corporations or financial institutions in selling properties and help to reduce the non-performing loan ratio, which stood at 8% as of June 30.

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