Pakistan’s regulated Real Estate Investment Trust (REIT) sector has significant growth potential, but experts say transparent property valuations, stronger governance and simpler tax regulations are essential to unlocking investment. During a Securities and Exchange Commission of Pakistan (SECP) Talk Series session, speakers noted that 29 REIT schemes registered in Pakistan had an aggregate fund size of Rs173.1 billion in December 2025. In comparison, the global market comprised 1,021 listed REITs with a combined market capitalisation of $2.04 trillion at the end of 2024.
SECP Commissioner Imtiaz Haider highlighted the potential of REITs to mobilise private investment for major infrastructure projects, including motorways, bridges, energy parks and logistics hubs. He also suggested using REIT structures to unlock value from existing public assets and help finance development initiatives.
Zahid Latif Khan, chairman of ISE REIT Management Company Limited, presented the Rs5.67 billion ISE Towers Rental REIT as a local success example. He also outlined opportunities for rental, developmental, hybrid and parking REITs in Islamabad and Rawalpindi.
Muhammad Ejaz, chief executive of Arif Habib Dolmen REIT Management Limited, discussed Dolmen City REIT and Globe Residency REIT. He cited a market capitalisation of Rs86.88 billion as of September 30, 2026, and occupancy rates exceeding 97% at both properties. He called for rationalising property transfer duties and taxes and reviewing investment limits to encourage sector expansion.
Speakers emphasised that REIT returns and liquidity are not guaranteed, as performance depends on the underlying assets, scheme structure and market conditions. They identified independent property valuations, effective trustee oversight, transparent disclosures and greater investor awareness as key measures for strengthening confidence and supporting sustainable growth in Pakistan’s REIT market.
