ISLAMABAD: Regulated real estate investment trusts (REITs) could formalise the property sector and link it to capital markets, but speakers stressed that their growth depends on transparent valuations, strong governance, and simpler tax rules at an SECP Talk Series session on Tuesday.
SECP Commissioner Imtiaz Haider said REITs could mobilise private investment for infrastructure such as motorways, bridges, energy parks and logistics hubs. He also suggested exploring REITs to unlock value from existing public assets and finance development projects.
He cited 29 REIT schemes registered in Pakistan by March 2026, with an aggregate fund size of Rs173.1 billion. Globally, 1,021 listed REITs had a combined market capitalisation of $2.04 trillion at the end of 2024.
Zahid Latif Khan, Chairman of ISE REIT Management Company Ltd, highlighted the $2.04tr global REIT market and presented Rs5.67bn ISE Towers Rental REIT as a local example. He also outlined potential rental, developmental, hybrid and parking REIT opportunities in Islamabad and Rawalpindi.
Speakers stressed that REIT returns and liquidity are not guaranteed; they depend on the underlying assets, scheme structure and market conditions. Independent valuation, trustee oversight, clear disclosures and investor awareness were identified as essential to building confidence.
Arif Habib Dolmen REIT Management Ltd CEO Muhammad Ejaz presented Dolmen City REIT and Globe Residency REIT as local examples. He cited Dolmen City REIT’s market capitalisation at Rs86.88bn as of Sept 30, with occupancy above 97pc at both properties. He called for rationalising property transfer duties and taxes and reviewing investment limits to support sector growth.
Published in Dawn, October 28th, 2026
