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REITs collect money from investors and deploy it in real estate projects. Photo courtesy Sana Agboatwala/File
KARACHI: After six years of radio silence from over half a dozen companies with a licence to manage real estate investment trusts (REITs), as many as six transactions worth up to Rs38 billion are likely to take place within 2021-22.
Speaking to
Dawn in a recent interview, Arif Habib Dolmen REIT Management CEO Muhammad Ejaz said his company will soon launch four REITs in addition to the two schemes that the company announced earlier this month.
REITs collect money from investors and deploy it in real estate projects. They operate like any other company but offer more transparency to investors as trustees control all assets and the entity must list on a stock exchange within three years. Small investors can then take exposure to an otherwise capital-intensive and illiquid real estate market by publicly trading REIT units just like ordinary shares.
REITs collect money from investors and deploy it in real estate projects. Photo courtesy Sana Agboatwala/File
KARACHI: After six years of radio silence from over half a dozen companies with a licence to manage real estate investment trusts (REITs), as many as six transactions worth up to Rs38 billion are likely to take place within 2021-22.
Speaking to
Dawn in a recent interview, Arif Habib Dolmen REIT Management CEO Muhammad Ejaz said his company will soon launch four REITs in addition to the two schemes that the company announced earlier this month.
REITs collect money from investors and deploy it in real estate projects. They operate like any other company but offer more transparency to investors as trustees control all assets and the entity must list on a stock exchange within three years. Small investors can then take exposure to an otherwise capital-intensive and illiquid real estate market by publicly trading REIT units just like ordinary shares.
Expanding narrow IT export base
Exports cannot be accelerated without increasing investment in mobile industry
A Reuters file image
KARACHI:
Pakistan’s current account deficit narrowed to $881 million in the first eight months (Jul-Feb) of current fiscal year from $2.741 billion in the same period of previous year.
This is entirely due to a meteoric rise in remittances. In Jul-Feb FY21, overseas Pakistanis sent home $18.743 billion whereas in Jul-Feb FY20 they had remitted $15.103 billion.
Such a handsome rise in remittances is a welcome move. But the improvement in one source of forex inflows does not provide a sustainable basis for improvement in the current account over the medium term ie in the next three to five years.