The Securities and Exchange Commission (SEC) has cleared the rental pool program of DMCI Project Developers, Inc., paving the way for the sale of 2,138 certificates of participation tied to condotel units in two tourism-oriented developments.

Citing a 16 June meeting, the Commission En Banc said it resolved to render effective the company's registration statement under the SEC’s Securing and Expanding Capital in Real Estate Non-Traditional Securities (SEC RENT) framework, subject to compliance with remaining requirements.

The offering involves a P50,000 joining fee per participant, translating to a total of P106.9 million in joining fees.

The rental pool scheme covers units in the Solmera Coast project in Batangas and the Moncello Crest project in Benguet, which are scheduled for completion in February 2028 and August 2029, respectively.

Under the arrangement, unit owners must enter into a management contract with an operator that will market, manage, and run the units as part of a single hospitality operation. In return, owners will receive a share of room revenues generated by participating units, net of taxes, fees, and other charges, based on a prescribed revenue-sharing formula.

The management contract will run for an initial 10-year term and will automatically renew unless otherwise agreed by the parties.

The approval marks another transaction under SEC RENT, a framework introduced through SEC Memorandum Circular No. 12, Series of 2024, to fast-track the registration of securities linked to real estate investment contracts such as rental pool arrangements.

Rental pool agreements allow developers to sell units in projects such as condominiums, hotels, and resorts while pooling them for lease operations managed by the developer or a third-party operator. Buyers, in turn, receive a share of the rental income generated from the pooled units.