Pakistan had 29 registered Real Estate Investment Trust (REIT) schemes with a combined fund size of Rs. 173.1 billion as of December 2025, according to figures presented at a Securities and Exchange Commission of Pakistan (SECP) session.
Speakers at the SECP Talk Series said REITs could help bring more property investment into the formal economy and connect the real estate sector with capital markets. They stressed that the sector’s expansion would depend on transparent valuations, effective governance and simpler tax rules.
SECP Commissioner Imtiaz Haider said REITs could attract private investment for infrastructure projects, including motorways, bridges, energy parks and logistics hubs. He also suggested using the structure to unlock value from existing public assets and finance development projects.
Presentations at the session showed that 1,021 listed REITs worldwide had a combined market capitalization of $2.04 trillion at the end of 2024.
Zahid Latif Khan, chairman of ISE REIT Management Company Limited, presented the Rs. 5.67 billion ISE Towers Rental REIT as a local example. He also discussed potential rental, development, hybrid and parking REIT projects in Islamabad and Rawalpindi.
Muhammad Ejaz, chief executive of Arif Habib Dolmen REIT Management Limited, highlighted Dolmen City REIT and Globe Residency REIT. He said Dolmen City REIT had a market capitalization of Rs. 86.88 billion as of September 30, 2026, while occupancy at both properties exceeded 97 percent.
Ejaz called for a review of property transfer duties and taxes, along with investment limits, to support the sector’s growth.
Speakers cautioned that REIT returns and liquidity are not guaranteed and depend on the underlying properties, scheme structures and market conditions. They also emphasized independent valuations, trustee oversight, clear disclosures and investor awareness as important safeguards.
The session was attended by SECP Chairman Dr. Kabir Ahmed Sidhu, commissioners, business representatives, students and lawyers. It concluded with a question-and-answer session and the presentation of commemorative shields to the speakers.
