Islamabad: Regulated Real Estate Investment Trusts (REITs) have the potential to integrate property into the formal economy and link it to capital markets, but their expansion relies on transparent valuations, effective governance, and simplified tax regulations, according to speakers at a recent session of the SECP Talk Series.
According to Securities and Exchange Commission of Pakistan, the session featured insights from Commissioner Imtiaz Haider, who emphasized the role of REITs in mobilizing private investment for infrastructure projects such as motorways, bridges, energy parks, and logistics hubs. Haider also advocated for the exploration of REITs to unlock value from existing public assets and finance developmental initiatives.
The presentations at the session highlighted that by March 2026, 29 REIT schemes are expected to be registered in Pakistan, with a projected aggregate fund size of Rs173.1 billion by December 2025. Comparatively, the global landscape showed 1,021 listed REITs with a combined market capitalization of US$2.04 trillion at the end of 2024.
Zahid Latif Khan, Chairman of ISE REIT Management Company Limited, underscored the significance of the US$2.04 trillion global REIT market. He showcased the Rs5.67 billion ISE Towers Rental REIT as a local example and discussed potential opportunities for rental, developmental, hybrid, and parking REITs in Islamabad and Rawalpindi.
Muhammad Ejaz, Chief Executive of Arif Habib Dolmen REIT Management Limited, presented Dolmen City REIT and Globe Residency REIT as prominent local examples. Ejaz noted that Dolmen City REIT’s market capitalization stood at Rs86.88 billion as of September 30, 2026, with an occupancy rate exceeding 97% at both properties. He advocated for the rationalization of property transfer duties and taxes and suggested a review of investment limits to foster sector growth.
Speakers cautioned that REIT returns and liquidity are contingent upon the underlying assets, scheme structure, and market conditions. They emphasized the necessity of independent valuation, trustee oversight, clear disclosures, and investor awareness to build confidence in the sector.
The session was well-attended, with SECP Chairman Dr. Kabir Ahmed Sidhu, Commissioners Imtiaz Haider, Muzaffar Ahmad Mirza, and Ali Farid Khawaja, along with business leaders, students, and lawyers present. The event concluded with a question-and-answer segment and the presentation of commemorative shields to the speakers.