Arif Habib plans up to five REIT listings in 2023

The stock exchange will witness up to five listings of real estate investment trusts (REITs) in 2023 from the Arif Habib Group alone, a company official told Dawn on Wednesday. REITs are investment schemes that collect money from investors and deploy it in real estate projects. Ordinary investors can trade REIT units like company shares once they get listed on the stock exchange within three years of inception — a feature designed to let small investors take exposure to an otherwise capital-intensive and illiquid real estate market. Speaking on the sidelines of a gong ceremony held to mark the start of trading in Globe Residency REIT, Arif Habib Dolmen REIT Management Ltd CEO Muhammad Ejaz said the group has registered as many as nine schemes with a collective fund size of Rs125 billion. “Four to five of these REITs will raise funds from the public within 2023,” he said.