The Securities and Exchange Commission (SEC) has approved the registration statement of Global One Hotel Group, Inc.'s rental pool program under the Securing and Expanding Capital in Real Estate Non-Traditional Securities (SEC RENT) framework, BusinessWorld reported. The SEC En Banc gave the green light during its June 11 meeting.
The program covers 6,340 condo-hotel units, allowing investors to participate in rental income generated by the properties. The SEC RENT framework was established to regulate non-traditional real estate securities and provide investor protections.
Global One Hotel Group is a developer of condo-hotel properties in the Philippines. The approval marks a significant step for the company in raising capital through pooled real estate investments.