First Pakistan REIT to Offer 9% Dividend, Stakes in Leading Mall
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Pakistan’s first real estate investment trust will offer an initial 9 percent dividend and stakes in one of Karachi’s most prominent malls and office towers when it sells shares within three months.
A 25 percent stake in the Dolmen City Real Estate Investment Trust will be offered to foreign and domestic investors, said Nasim Beg, chairman of Arif Habib Dolmen REIT Management Ltd. The trust’s assets will be the Dolmen Mall, which hosts stores including Mango and Debenhams, and the adjacent office building that houses Engro Corp. Both are near the Karachi seafront, one of Pakistan’s wealthiest areas.