The Securities and Exchange Commission has approved the rental-pool program of Damosa Land Inc., the first securities issuance to be cleared under the regulator’s Securing and Expanding Capital in Real Estate Non-Traditional Securities.
SEC RENT regulates the sale by realtors of units under a rental pool arrangement scheme where a property developer sells or offers units in real estate projects such as condominiums, hotels, resorts or dormitories to prospective buyers, with the arrangement that it is enrolled into a rental pool managed and operated by the company or a third-party operator.
Buyers in rental pool agreements typically receive a share in the real estate developer’s income earned by renting out the units to third parties.
Damosa Land registered its joint-venture condotel project with PHINMA Microtel Hotels, TRYP by Wyndham Samal, covered by 100 certificates of participation.
Valid for 20 years from the date of the operation, the certificates cover 94 standard class condotel units at an offer price of P50,000 each; four deluxe class units, each worth P75,000; and two suite class units, each with an offer price of P100,000.
Damosa Land announced that all units in TRYP by Wyndham Samal will be enrolled in a mandatory condotel rental pool program.
“Each unit shall automatically be included in the rental pool upon purchase, allowing it to be marketed, rented, and managed as hotel accommodation for hotel guests without transferring ownership,” according to the SEC.
The rental-pool arrangement is expected to gross up to P5.2 million, which will be used to fund the company’s pre-operating expenses and to provide a buffer for the first three months of operations.
TRYP by Wyndham Samal, located in Barangay Limao, Samal, Davao del Norte, plans to launch in the fourth quarter of 2025, with construction set to begin in the first quarter of 2026. The project is expected to be completed in the third quarter of 2028, with the opening scheduled in the fourth quarter of the same year, according to its latest timeline submitted to the SEC.
Realtor Arthaland Corp., meanwhile, told the Philippine Stock Exchange that it is also enrolling its Cebu Exchange and Savya Financial Center developments under SEC RENT.
The 38-storey Cebu Exchange is an office building located in Barangay Lahug, Cebu City, and was completed in 2023. The Savya Financial Center, meanwhile, is a two-tower office building with a gross floor area of 59,763 sqm, located in Arca South, Taguig City, and was substantially completed in 2023.
The lease pools in Cebu Exchange and Savya Financial Center comprise a total of 166 units, with a gross leasable area (GLA) of 38,692.71 sqm.
Regarding Cebu Exchange, 142 units are enrolled in Arthaland’s consolidated leasing solution (CLS) program, of which 140 are currently leased, while the company retains ownership of 2 units.
