المادة 48(c): Offering Requirements for REITs

c) When submitting an application for offering, the fund manager must provide the Authority with the followings:

1) Binding agreement to sell the real estate subject of investment or a binding agreement to transfer the real estate's interest, where the fund is investing in usufruct rights, as determined in the fund's terms and conditions, upon the completion of the fund units offering and before its listing.

2) Memorandum of understanding between the Fund Manager, the developer, and the engineering office, (where applicable).

3) Memorandum of understanding between the fund manager and the company responsible for the property management or the lease contract, if agreed that the lessee is responsible for managing the property, as the case may be.

4) Name of one receiving agent, at least.