도심복합개발사업의 시행자로서 리츠(REITs)의 연착륙 방안 연구

도심복합개발사업 시행자로서 리츠의 제도적 안착 방안을 연구했다.

Since the 1970s, cities in Korea have changed and developed through various forms such as redevelopment, reorganization, and regeneration. In order to redevelop and develop a city, there must be pivot called a project implementer, and the central point is the ‘association’ formed by landowners. However, due to the union’s lack of expertise as a project implementer, excessive pursuit of profit, corruption and rampant performance of work by the union executives, and conflicts with construction companies, the project is being stranded or delayed, increasing social costs. At this time, several project implementers in response to the association were institutionalized.

Since the 2000s, as the financial sector has continued to develop, REITs have also grown along with it, and granting REITs the status of project implementers has been discussed and specifically institutionalized in the law. It should be well understood that complex development projects are projects that are carried out in similar areas to redevelopment projects, but they have more future-oriented and unconventional aspects. In particular, the recognition of REITs as project implementers has expanded the range of project implementer choices.

However, in order for a REITs project operator to carry out a complex development project, it must maintain the essence of professional finance while complying with the procedures and formats of the development project. The current Urban Complex Development Act does not contain many legal regulations for REITs project implementer, so it is necessary to prepare more detailed legal regulations for project implementation, such as the organization for project implementation, acquisition and distribution of rights, method of decision-making, and whether the project will continue.

The Urban Complex Development Act will be implemented starting next year, and the REITs-style project promotion movement is being detected in many project areas. Along with the enforcement of the Act or even before that, meticulous institutional support is needed so that the REITs-style project can make a soft landing in the complex development project field.