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Naya Nazimabad Apartment REIT (NNAR) has been listed on the Pakistan Stock Exchange (PSX), with strong investor demand marking Arif Habib Group’s fourth REIT listing.
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb struck the gong at the PSX on Thursday to mark the listing.
Prime Minister Shehbaz Sharif joined the ceremony virtually as chief guest.
The event also highlighted Pakistan’s recent Eurobond issuance. The Finance Minister cut a cake to mark the country’s $3 billion Eurobond issue, which attracted orders of nearly $6 billion.
Arif Habib, Chairman of Arif Habib Group, hosted the ceremony. The event brought together the State Bank of Pakistan governor, Securities and Exchange Commission of Pakistan leadership, PSX officials, bankers, fund managers and business leaders.
NNAR is the fourth REIT from Arif Habib Group to list on the PSX.
The book-building portion of the offering was oversubscribed by about eight times. The general public offer received 4.28 times the number of subscriptions available.
More than 8,000 investors participated in the offering.
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The response highlights investor interest in regulated investment opportunities linked to Pakistan’s real estate and construction sectors.
Prime Minister Shehbaz Sharif said the strong response to Pakistan’s Eurobond showed renewed international confidence in the country.
He also linked strong domestic demand for NNAR with investor confidence in Pakistan.
The prime minister said housing could provide security and dignity to families while creating employment across several industries.
He said the government would continue working to improve access to housing, particularly for ordinary families.
Finance Minister Muhammad Aurangzeb said the NNAR offering showed that Pakistani investors were willing to invest when credible opportunities became available.
He said REITs bring real estate assets into a regulated investment structure. Such structures provide documented assets, professional management and independent trusteeship, he added.
Aurangzeb said the government’s focus remained on developing deeper and more transparent financial markets. He also highlighted housing and infrastructure as areas where investment could support economic activity.
Arif Habib said the NNAR listing reflected his group’s commitment to expanding investment opportunities.
He said the REIT would connect capital markets with housing development and employment generation.
He also stressed the importance of disciplined and transparent management as investors placed capital in the project.
PSX Managing Director and Chief Executive Officer Farrukh H. Sabzwari said the listing demonstrated the stock exchange’s role in connecting investors with the real estate sector.
He said capital markets could help businesses raise funds for development while expanding investment opportunities.
The NNAR listing adds another real estate investment vehicle to Pakistan’s capital market as companies seek to channel private investment into housing and other development projects.
[…] Naya Nazimabad REIT Apartment Fund Lists on PSX […]