Globe Residency REIT Declares Dividend of PKR 3 (i.e. 30%) in first 12 months of its itemizing

Karachi (Muhammad Yasir)

Globe Residency REIT (GRR), Pakistan’s first listed Developmental Actual Property Funding Belief (REIT), has declared a Money Dividend of PKR 3 (i.e. 30%) per unit of PKR 10 every for the fiscal 12 months ending June 30, 2023.

GRR which was listed in December final 12 months is a closed ended, Developmental REIT. GRR presents traders a chance to partake within the possession of Globe Residency Residences. This undertaking contains 1,344 residences throughout 9 towers being constructed at Naya Nazimabad, Karachi, a undertaking of Javedan Company Restricted.  

Naya Nazimabad is an built-in housing scheme which focuses on group dwelling. It’s the largest master-planned, gated residential improvement in Karachi and can home greater than 50,000 households at its completion. With meticulously built-in facilities designed to cater to up to date existence, every part residents require is conveniently inside attain. A undertaking of Javedan Company Restricted, Naya Nazimabad is a self-contained metropolis, conceptualized and developed with the imaginative and prescient of offering a peaceable group ambiance and promotes a healthful and holistic way of life.

Arif Habib, Chairman, Arif Habib Dolmen REIT Administration commenting on the outcomes stated, “The REIT instrument permits traders a contemporary avenue of protected funding. REITs guarantee totally documented actual property improvement actions in a clear method. Arif Habib Group has to date registered 14 REITs in whole with a fund dimension of PKR 125 billion. The dividend declaration by Globe Residency REIT, together with its complete progress, signifies our unwavering dedication to traders and stakeholders, in addition to our resolute dedication to introducing transformative actual property tasks that contribute to Pakistan’s financial development and improvement. Earlier, Dolmen Metropolis REIT, a rental REIT distributed PKR 4.02 billion for the monetary 12 months 2023.”