The leading real estate developer in Pakistan, IMARAT Group of Companies, has secured a Real Estate Investment Trust (REIT) license from Pakistan’s Securities and Exchange Commission (SECP). With a strong portfolio of completing and delivering five projects in Pakistan, including residential and retail malls, the company aims to instil confidence among Non-Resident Pakistanis (NRPs) in investing in its ventures.
Shifting its focus on the UAE market, IMARAT is considering expansion through its subsidiary Graana.com. Annually, the UAE remits over Dh21 billion ($5.7 billion) to Pakistan, a substantial portion of which is directed towards real estate. Introducing a regulated REIT framework is expected to refine these investments and drive economic activity in Pakistan.
IMARAT Chairman Shafiq Akbar views the REIT license as a milestone for expanding operations in the UAE and attracting significant investments, which will benefit both countries’ real estate economies.
Having redefined Pakistan’s real estate landscape, IMARAT is set to host an investor roadshow in Dubai to attract investments, with an expected Dh4 billion influx from the UAE into Pakistan’s real estate sector. This investment is poised to fuel growth in related industries and create employment opportunities. IMARAT’s focus on hospitality, experiential living, and tech innovation hubs underscores its commitment to sustainable urban development.
