REIT Activity Area | Real Estate Investment Trust | Nurol GYO

Activity Area

 

General activity areas of the Real Estate Investment Trusts include the following list.
Nurol REIT, defines the framework of its legal operations as follows.

  • To establish the REIT's portfolio, make changes in the portfolio as needed, diversify the investment risks by diversifying the REIT's portfolio to minimize the risks;
  • To take due measures for the management of the REIT's portfolio by continuously monitoring the developments on the transactions and real properties, and to make and have agents make research on the maintenance or increasing the value of the portfolio;
  • To investigate whether or not the required legal conditions have been secured for the present or intended assets forming the the REIT's portfolio in accordance with the Communiqué on REITs, and providing reports on this subject;
  • To ensure that valuation reports for the assets are prepared;
  • To monitor the activities of the relevant institutions if the portfolio is managed via outsourced consultancy service;
  • To monitor the activities of the relevant institutions if the portfolio is managed via outsourced consultancy service;

Real Estate Investment Trusts are also authorized to carry out the following activities without prejudice to the limitations imposed by the Communiqué on REITs:

  • To realize the purchase and sale of the real property certificates, asset-backed securities issued against housing loans, and the real properties which are deemed to have similar qualities as endorsed by the Board;
  • To buy, sell and conduct reverse repo transactions regarding other capital markets instruments;
  • To buy and sale of the offices, houses, business centers, shopping centers, hospitals, hotels, commercial warehouses, commercial plants and similar other real properties for the purpose of obtaining trading profit or rental income;
  • To furnish before renting the real properties such as hotels, hospitals, etc. which require the existence of a minimum hardware before their lease;
  • To earn a trading profit through ownership, or purchase of sites and lands for the purpose of developing projects by getting apartment-sharing license for them;
  • To sell the real properties on which right of construction has been established independently and permanently for the purpose of developing projects on them by public or private real or legal persons in the name of Nurol REIT;
  • To invest in real property projects by way of acquiring their ownership or establishing right of construction on them for which all licenses have been duly received in accordance with the applicable laws and regulations, whose projects are ready and approved, and all legally-required certifications for the start of construction on them are complete and proper as certified by the independent survey companies at any stage of the project for the purpose of getting development profit or rental income;
  • To establish usufruct rights on real properties and use of such right;
  • To act with the capacity of a responsible party for the right of construction on the sites owned by them for the purpose of establishing timeshare easement;
  • To realize the projects to be developed by Build-Operate-Transfer model through establishing right of construction on them on behalf of itself or others on condition of satisfying the aforementioned provisions without prejudice to the special regulations;
  • To invest in real property projects having the above-specified conditions for the purpose of obtaining shares from their future rental income without the purpose of acquiring the ownership or without establishing apartment-sharing license on them on condition of having the due guarantees as approved by the Board within the clauses of the agreement;
  • Making joint investments in real property projects having the specified conditions through establishing apartment-sharing license on them on condition that no limitation exists regarding the REIT's use of its share as may be provided by the agreement signed between the joint-owners;
  • To make swap and forward transactions, write options, buy futures contracts for the purpose of protecting from the interest rate risks that may arise out of foreign exchange rates and obligations except the commodity contracts...
 

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