Real estate group IMARAT enters capital market with REIT licence

KARACHI: IMARAT Group of Companies, a renowned name in Pakistan’s real estate sector, achieved a significant milestone, as the Securities and Exchange Commission of Pakistan (SECP) issues Real Estate Investment Trust (REIT) license. This announcement comes at a time when the real estate market is navigating through challenging conditions, demonstrating IMARAT’s resilience and strategic vision.

Led by Chairman Shafiq Akbar, IMARAT boasts a portfolio of 15 projects, including partnerships with international hotel chains and upscale apartment complexes. The group has also developed vertical commercial projects like IMARAT Builders Mall and Amazon Mall, further cementing its industry influence.

Chairman Shafiq Akbar expressed his enthusiasm about this new chapter in the company’s growth story: “Receiving the REIT license from SECP is a testament to IMARAT’s strong fundamentals and strategic approach. This REIT will not only allow us to create more value for our investors but also contribute positively to Pakistan’s real estate sector and the broader economy. We are excited about the opportunities this brings and remain focused on delivering value to our stakeholders.”

Akbar conveyed deep gratitude towards IMARAT’s clients whose trust and support have propelled IMARAT to the forefront of the industry. He acknowledged the dedication and hard work of the company’s workforce, attributing their relentless efforts to IMARAT’s global success.

Copyright Business Recorder, 2024