First Real Estate Investment Trust Scheme has been approved by SECP

[Salman]

Securities and Exchange Commission of Pakistan has given the approval of Real Estate Investment Trust (REIT) scheme. This scheme has been introduced for the very first time in Pakistan. Arif Habib REIT Management Company Limited will manage the REIT scheme. The name given to the scheme is Dolman City REIT. Arif Habib is one of those very few groups who decided to submit the REIT scheme and first to get the approval from SECP.

The regulations of REIT were released two years ago by APEX but it is the first time when some progress has been seen in it. In this scheme, general public will have the right to accept the offer of property in unit in stock exchange. As REIT is a real estate investment mutual fund so it is very popular in the developed countri