Law firm Jiphyeon announced on the 2nd the launch of the "Project REITs Integrated Support Center."
Project REITs enable real estate investment trusts (REITs) not only to invest in real estate but also to engage in development and operation. It will be introduced when the amendment to the Real Estate Investment Company Act goes into effect in November.
The Jiphyeon Project REITs Integrated Support Center will consist of experts from the Jiphyeon REITs Fund Group, financial advisory group, and construction and real estate group. The head of the integrated support center will be lawyer Lee Seok-jae (31st Judicial Research and Training Institute), who has a history of advising on several large-scale REITs transactions, including the public listing of E KOCREF.
A Jiphyeon official noted, "The Project REITs Integrated Support Center is expected to support the entire process from the establishment phase of Project REITs to the development and operation phase, providing advice and responding to issues."
Lee Seok-jae emphasized, "Based on the experience and practical skills accumulated since the early introduction of the Project REITs system, we will provide comprehensive and practical advice to ensure that market participants can utilize the new system reliably."