Four New REITs Expected to be Launched Soon
Karachi: According to news sources, Arif Habib Dolmen Real Estate Investment Trust (REIT) Managing CEO Muhammad Ejaz announced that his company will shortly introduce four REITs in addition to the two plans introduced earlier this month.
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The county’s first REIT company, The Arif Habib Dolmen REIT, successfully developed and opened the Dolmen Mall in 2015.
Arif Habib Dolmen has joined together with five other businesses, including Yunus Brothers, Arif Habib Group, Liberty Group, and Fatima Group, to invest PKR 3 billion in Surjani Town in Karachi for a low-cost housing project on a 60-acre tract of land.
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The project will create and market 12,000 two- and three-bedroom homes with living rooms when it is finished. The project is anticipated to begin selling its inventory in 18 months. The units will be sold on 4 year simple instalments.
On an 86-acre site, Mehmood Trunkwala’s World Group’s second REIT will be built, along with 600 affordable housing units that will be made available through the Naya Pakistan Housing Project (NPHP).
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