NINETEENTH CONGRESS 
) 
REPUBLIC OF THE PHILIPPINES ) 
First Regular Session 
) 
HOUSE OF REPRESENTATIVES 
Introduced by Representative Rufus B. Rodriguez 
House Bill No.  _____ 
EXPLANATORY NOTE 
Under Republic Act 9856, or "The Real Estate Investment Trust (REIT) Act of 2009", it was 
declared as a policy of the State, “promote the development of the capital market, democratize 
wealth by broadening the participation of Filipinos in the ownership of real estate in the 
Philippines, use the capital market as an instrument to help finance and develop infrastructure 
projects, and protect the investing public by providing an enabling regulatory framework and 
environment under which real estate investment trusts, through certain incentives granted 
herein, may assist in achieving the objectives of this policy” 
There is therefore a need to ensure that the funds invested in these companies are reinvested 
in the Philippines to secure full domestic participation in the real estate industry. 
In view of the foregoing, the approval of this bill is earnestly requested. 
RUFSU B. RODRIGUEZ 
December 6, 2022
8:00 am
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NINETEENTH CONGRESS   
) 
REPUBLIC OF THE PHILIPPINES ) 
First Regular Session  
 
) 
HOUSE OF REPRESENTATIVES 
Introduced by Representative Rufus B. Rodriguez 
House Bill No.  _____ 
AN ACT 
AMENDING SECTIONS 3, 8, AND 9 OF REPUBLIC ACT NO. 9856, OTHERWISE KNOWN 
AS “THE REAL ESTATE INVESTMENT TRUST (REIT) ACT OF 2009” 
Be it enacted by the Senate and House of Representatives of the Philippines in  
Congress assembled: 
SEC. 1. Section 3 of Republic Act No. 9856 is hereby amended to read as follows: 
“Section 3. Definition of Terms. - For the purposes of this Act, the term: 
xxx 
 (GG)  “REINVESTMENT PLAN” REFERS TO A SWORN STATEMENT, DULY 
RECEIVED BY THE EXCHANGE AND THE COMMISSION, SIGNED BY THE 
SPONSOR/PROMOTER AND THE PRINCIPAL SHAREHOLDER OF THE REIT 
FIRMLY UNDERTAKING, AT THE MINIMUM, TO REINVEST (I) ANY 
PROCEEDS REALIZED BY THE SPONSOR/PROMOTER FROM THE SALE OF 
REIT SHARES OR OTHER SECURITIES ISSUED IN EXCHANGE FOR 
INCOME-GENERATING REAL ESTATE TRANSFERRED TO THE REIT AND 
(II) ANY MONEY RAISED BY THE SPONSOR/PROMOTER FROM THE SALE
OF ANY OF ITS INCOME-GENERATING REAL ESTATE TO THE REIT, IN ANY
REAL ESTATE, INCLUDING ANY REDEVELOPMENT THEREOF, AND/OR
INFRASTRUCTURE PROJECTS IN THE PHILIPPINES, WITHIN ONE (1) YEAR
FROM THE DATE OF RECEIPT OF PROCEEDS OR MONEY BY THE
SPONSOR/PROMOTER.”
(hh)  “Related Corporation” xxx
(ii)
“Relate Part” xxx
(jj)  
“Securities Regulation Code” xxx 
(kk) 
“Sponsor/Promoter” xxx 
(ll)
“Subsidiary” xxx
(mm) “Synthetic Investment Products” xxx
(nn)  “Taxable Net Income” xxx
xxx 
SEC. 2. Section 8 of Republic Act No. 9856 is hereby amended to read as follows: 
“Section 8. Requirements. - Unless the Commission provides otherwise and after 
public hearing, taking into account public interest, the need to protect investors 
and develop the country's real estate investment industry to make it globally 
competitive, the following requirements shall apply: 
xxx 
 8.19  REINVESTMENT IN THE PHILIPPINES – ANY PROCEEDS REALIZED 
BY THE SPONSOR/PROMOTER FROM THE SALE OF REIT SHARES OR 
OTHER SECURITIES ISSUED IN EXCHANGE FOR INCOME-GENERATING 
REAL ESTATE TRANSFERRED TO REIT AND ANY MONEY RAISED BY THE 
SPONSOR/PROMOTER FROM THE SALE OF ANY OF ITS INCOME-
GENERATING REAL ESTATE TO THE REIT, IN ANY REAL ESTATE, 
INCLUDING 
ANY 
REDEVELOPMENT 
THEREOF, 
AND/OR 
INFRASTRUCTURE 
PROJECTS 
IN 
THE 
PHILIPPINES, 
MUST 
BE 
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REINVESTED IN THE PHILIPPINES WITHIN ONE (1) YEAR FROM THE DATE 
OF RECEIPT OF PROCEEDS OR MONEY BY THE SPONSOR/PROMOTER. 
 
SEC. 3. Section 9 of Republic Act No. 9856 is hereby amended to read as follows: 
 
 
“Section 9. Reportorial and Disclosure Requirements. – 
 
xxx 
 9.4  
REINVESTMENT 
PLAN 
– 
THE 
REIT 
SHALL 
SUBMIT 
A 
REINVESTMENT PLAN TO THE EXCHANGE AND THE COMMISSION UPON 
REGISTRATION. FURTHER, THE REIT MUST ANNUALLY SECURE A 
CERTIFICATION FROM THE COMMISSION THAT IT IS COMPLIANT WITH ITS 
REINVESTMENT PLAN. 
9.5 
 Failure of Compliance - xxx 
 
SEC. 5. Separability Clause. – If any provision of this Act shall be held unconstitutional or 
invalid, the other provisions not otherwise affected shall remain in full force and effect. 
 
SEC. 6. Repealing Clause. – All laws, decrees, executive orders, rules and regulations or 
parts thereof which are contrary to or inconsistent with this Act are hereby repealed, amended 
or modified accordingly. 
 
SEC. 7. Effectivity. – This Act shall take effect fifteen (15) days after its complete publication 
either in the Official Gazette or in a newspaper of general circulation. 
 
Approved,