ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has authorised Modaraba companies to deal in real estate projects that are approved by development authorities.
According to SRO 1546 (I)/2022 issued by the SECP on Wednesday, a Modaraba company can deal, hold or trade in real estate projects, subject to pre-established terms and conditions.
In the case of a multipurpose Modaraba, where real estate investment makes up one-third of its total assets, it shall adhere to the following conditions:
(i) The investments shall only be made in assets recognised by development authorities i.e. Capital Development Authority and/or any other in any city of Pakistan, and should be supported by NOCs relating to the real estate project from the relevant authority.
(ii) The purpose of investment can be to develop properties for rental, development or mixed projects.
In case of a specific-purpose Modaraba, for real estate investment or where investment in real estate makes up one-third or more of its portfolio, it also has to comply with a few additional conditions:
(i) At least two directors of the company shall have a minimum of five years’ experience in dealing with real estate projects.
(ii) A valuation report from an independent valuer shall be obtained.
(iii) The prospectus of the company shall contain information relating to management experience of the sponsors, the type of real estate project, potential locations of the project, investment objectives, valuation report, feasibility study, legal status of the property, funds required, sponsors’ contribution, and the compliance with the lock in period requirement for the sponsors.
MELBOURNE — A new analysis by Deluxe Holiday Homes has highlighted significant shifts in Melbourne's…
ANKARA — A devastating fire at the Kartalkaya ski resort in northern Türkiye claimed the…
As Vietnam heads into 2025, the real estate market presents a dynamic mix of challenges…
Dubai’s secondary housing market is predicted to see robust growth in 2025, with demand for…
As Los Angeles County grapples with the aftermath of some of the most destructive fires…
On Friday, Azam Nazeer Tarar, the Minister for Law and Justice, informed the Senate that…
Welcome to Graana Blog - Pakistan’s Smartest Property Portal!
For more than a decade our intention has been to revolutionise the real estate industry in Pakistan. The same belief drove the vision of our real estate team, Graana where quality beats quantity.
We have introduced an extremely transparent and purposeful portal where we will help you buy, rent or sell your property. A place where you can sit back relax and let us market your projects and listings. We believe we have set new standards for the future of real estate in Pakistan by providing the smartest property portal.
