Karachi: The Pakistan Stock Exchange (PSX) will add seven new Real Estate Investment Trusts (REIT)s companies to its roster, news sources reported on August 5. PSX has only recently added new REIT businesses for share trading after seven years.
According to reports, the companies listed on PSX and the existing companies are expected to generate a combined revenue of PKR 450 billion in the coming years. Among the seven new companies joining the panel are two in Surjani Town, GRR, Rahat Residency REIT, Naya Nazimabad Apartment REIT, and two in Lahore. The enlisted REITs will fund home developments for middle-to upper-class populations. The length of the housing loan might be up to 20 years. Moreover, the listing has been approved by the federal and provincial governments, the Federal Board of Revenue (FBR), and the State Bank of Pakistan (SBP) through rationalized regulations and taxation.
It is crucial to note that at present, just a few REITs are operating with restricted shares listed on PSX. According to the regulations, each REIT established must list its shares on PSX within three years of being founded.
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.
