Regulated Real Estate Investment Trusts (REITs) can help bring property into the formal economy and connect it with capital markets, but their growth depends on transparent valuations, sound governance, and simpler tax rules, speakers said at an SECP Talk Series session.
Commissioner Imtiaz Haider, who welcomed participants, said REITs could mobilize private investment for infrastructure projects 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.
Presentations cited 29 REIT schemes registered in Pakistan by March 2026, with an aggregate fund size of Rs. 173.1 billion in December 2025. Globally, 1,021 listed REITs had a combined market capitalization of US$2.04 trillion at the end of 2024.
Zahid Latif Khan, Chairman of ISE REIT Management Company Limited, highlighted the global REIT market and presented the Rs5.67 billion ISE Towers Rental REIT as a local example.
He also outlined potential rental, developmental, hybrid, and parking REIT opportunities in Islamabad and Rawalpindi.
Muhammad Ejaz, Chief Executive of Arif Habib Dolmen REIT Management Limited, presented Dolmen City REIT and Globe Residency REIT as local examples.
He mentioned Dolmen City REIT’s market capitalization at Rs. 86.88 billion as of September 30, 2026, with occupancy above 97 percent at both properties.
Ejaz called for rationalizing property transfer duties and taxes and reviewing investment limits to support sector growth.
Speakers stressed that REIT returns and liquidity are not guaranteed and 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.
The session was attended by SECP Chairman Dr. Kabir Ahmed Sidhu, Commissioners Imtiaz Haider, Muzaffar Ahmad Mirza, and Ali Farid Khawaja, as well as business leaders, students, and lawyers.
The event concluded with a question-and-answer session, followed by the presentation of commemorative shields to the speakers.
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