Strong Investor Response Pushes Bids to PKR 4.5 Billion
Naya Nazimabad Apartments REIT has received a strong response from investors, with its book-building process oversubscribed by eight times and attracting total bids of approximately PKR 4.5 billion.
The response highlights growing investor confidence in the offering and the underlying Naya Nazimabad development, while also pointing to increasing interest in professionally managed real estate investment opportunities.
Units Hit Upper Price Ceiling
Investor demand pushed the issue price to the upper ceiling of PKR 23 per unit, representing a 28% increase over the floor price.
The offering successfully raised PKR 1 billion in equity, marking a significant milestone for the Naya Nazimabad Apartments REIT.
Public Subscription Set for September 7 and 8
Following the successful book-building process, the general public subscription will take place on September 7 and 8, 2026.
The public portion accounts for 25% of the total offer, while the remaining 75% has been allocated through the book-building process.
REIT Market Gains Investor Interest
The strong participation reflects growing interest in Pakistan’s REIT market and its potential to provide investors with access to real estate as an investable asset class.
Naya Nazimabad Apartments REIT is managed by Arif Habib Dolmen REIT Management Limited, while Arif Habib Limited is serving as Lead Manager.
Investor Confidence Supports Capital Market Development
Commenting on the successful book building, Shahid Ali Habib, CEO of Arif Habib Limited, said the eight-times oversubscription and demand at the upper price ceiling demonstrate strong investor confidence in the offering.
He also highlighted the potential of well-structured real estate investment products to expand access to property-related investments in Pakistan.
The successful offering further reinforces the role REITs can play in broadening investment opportunities, attracting capital toward professionally managed real estate projects and supporting the continued development of Pakistan’s capital markets.