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IMARAT Plans Pakistan’s Biggest REIT

03:27 PM | 1 Nov, 2023
IMARAT Plans Pakistan’s Biggest REIT

ISLAMABAD — IMARAT Group, the leading real estate developer in Pakistan, is pleased to announce the establishment of a Real Estate Investment Trust (REIT) management company (RMC). This is a precursor to IMARAT’s launching its own REIT next year.

The newly established REIT management company will initially incorporate four projects from IMARAT Group’s extensive portfolio of 15 projects. These selected projects demonstrate the Group’s commitment to innovation, sustainability, and delivering value to its investors.

Over the next few years, the saleable inventory for these REIT projects is estimated to be worth $1 billion. This significant figure underscores the potential of this venture and the substantial returns it could yield for investors.

“We are excited about this new chapter in our growth story,” said a spokesperson for IMARAT Group. “The establishment of a REIT management company aligns with our vision to provide diverse and profitable investment opportunities. We believe that this initiative will not only benefit our investors but also contribute positively to the real estate sector and the economy at large.”

IMARAT Group invites all interested parties to explore investment opportunities with its new REIT management company. Further details about the projects included in the REIT will be shared in due course.

Daily Pakistan Global Web Desk


PKR rate against US Dollar, Euro, Pound, Riyal - Check 16 April forex rates

Pakistani currency gains momentum against all currencies on April 16, 2024 Tuesday. US dollar was being quoted at 277.9 for buying and 280.85 for selling.

Euro was quoted at 295 for buying and 298 for selling while British Pound stands at 345 for buying, and 349 for selling.

UAE Dirham AED was at 75.4 and Saudi Riyal's new rates was at 73.30. 

Today’s currency exchange rates in Pakistan - 15 April 2024

Currency Symbol Buying Selling
US Dollar USD 277.9 280.85
Euro EUR 295 298
UK Pound Sterling GBP 345 349
U.A.E Dirham AED 75.45 76.2
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 182.7 184.5
Bahrain Dinar BHD 739.38 747.38
Canadian Dollar CAD 204 206.2
China Yuan CNY 38.45 38.85
Danish Krone DKK 40.45 40.85
Hong Kong Dollar HKD 35.57 35.92
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86 1.94
Kuwaiti Dinar KWD 903.91 912.91
Malaysian Ringgit MYR 58.92 59.52
New Zealand Dollar NZD 167.63 169.63
Norwegians Krone NOK 25.38 25.68
Omani Riyal OMR 722.1 730.1
Qatari Riyal QAR 76.35 77.05
Singapore Dollar SGD 206 208
Swedish Korona SEK 25.72 26.02
Swiss Franc CHF 307.11 309.61
Thai Bhat THB 7.61 7.76


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