β‘ Flash Summary
Globe Residency REIT (GRR) is Pakistan’s first listed closed-end developmental REIT scheme, managed by Arif Habib Dolmen REIT Management Limited. The project is located in Naya Nazimabad, Karachi, and aims to construct 9 apartment towers with 1,639 apartments. As of September 30, 2025, the project has a total inventory of 1,639 units, with 1,102 units launched for booking and 899 units sold (82% of launched inventory). The total sales value (estimated) is PKR 28.0 billion.
π Key Takeaways
- 1. π΅π° GRR is Pakistan’s first listed closed-end Developmental REIT Scheme.
- 2. π’ Project comprises 5 Flat Sites (FL 3, 4, 5, 7, and 8) in Naya Nazimabad.
- 3. ποΈ Objective is to construct 9 apartment towers with 1,639 apartments (2 & 3 Beds).
- 4. π€ Meezan Bank has entered a Musharaka partnership over three towers (537 apartments).
- 5. π° Initial fund size was PKR 2,800 million (PKR 1,400 million equity and PKR 1,400 million debt).
- 6. π Centrally located in Naya Nazimabad, 0.5 KMs from the main gate.
- 7. π’ As of September 30, 2025, total project inventory is 1,639 units.
- 8. π’ Inventory under Musharaka is 537 units.
- 9. π 1,102 units have been launched for booking.
- 10. β 899 units have been sold (82% of launched inventory).
- 11. πΈ Total amount of sold units is PKR 14.3 billion.
- 12. π Total estimated sales value is PKR 28.0 billion.
- 13. π£οΈ Sakhi Hasan – Naya Nazimabad Flyover improves accessibility since June 9, 2024, cutting travel time.
- 14. π PropertyShare enables digital investment in 100 sq. ft. portions of apartments.
π― Investment Thesis
Based on the strong operational performance, strategic location, and potential for capital appreciation, a BUY recommendation is warranted. The REIT demonstrates promising growth, and digital advancements enhance accessibility. Investors should consider the inherent risks and uncertainties. The price target should be determined by comparable REIT valuations, considering growth and returns.
Disclaimer: AI-generated analysis. Not financial advice.