Karachi: The Pakistan Stock Exchange (PSX) on Wednesday (August 10) enlisted the real estate and construction industries under a new category for trading stocks, news sources reported. The new category ‘property’ will comprise all non-Real Estate Investment Trust (REIT)- related listed firms.
According to reports, the PSX has established its 36th and latest category to allow real estate firms to trade their shares. Previously, these firms were classified as miscellaneous or belonging to the building and cement industries. Under the newly constituted category, the PSX has listed the following three businesses :
During the inaugural ceremony of the newly established category, PSX Managing Director (MD) and Chief Executive Officer (CEO) of Farrukh H. Khan remarked that the new category will effectively make PSX a true reflection of the country’s diverse economy.
It is worth noting that the PSX recently added seven more REITs to its trading panel, expanding its real estate trading portfolio. This comes at a time when the country’s property market is expanding largely to the new house finance programme announced under the Mera Pakistan Mera Ghar (MPMG) Scheme.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
