Pakistans primary capital market is witnessing continued momentum as the Securities and Exchange Commission of Pakistan (SECP) has approved the Offer for Sale prospectus of Naya Nazimabad Apartments REIT (NNAR) for listing on the Pakistan Stock Exchange (PSX).
The Naya Nazimabad offering is the 13th public offering approved by the SECP in 2026, highlighting the growing role of Pakistans capital markets in mobilizing investment and providing businesses with alternative sources of growth financing.
The offering comprises 44.06 million REIT units, representing 15% of the total units of the REIT Scheme. The offering will be conducted through the book-building mechanism, with 75% of the units allocated to institutional investors and high-net-worth individuals, while the remaining 25% will be offered to retail investors.
NNAR is a closed-end Developmental REIT established under the Real Estate Investment Trust Regulations, 2022. The scheme aims to develop acquired real estate into commercial, retail and residential units. Returns for unit holders will be generated through the sale of completed properties.
According to the SECP, Pakistan currently has 29 registered REIT schemes, of which six are listed on the Pakistan Stock Exchange. Following its listing, NNAR will become the seventh listed REIT, further expanding regulated investment opportunities in the countrys real estate sector.
SECP Chairman Dr. Kabir Ahmed Sidhu said the increasing number of public offerings demonstrates the growing use of capital markets for business financing and investment.
A strong primary market helps channel savings into productive investment and provides businesses with alternative sources of long-term financing, he said.
The approval of the Naya Nazimabad Apartments REIT offering reflects continued diversification of Pakistans capital market, with companies and investment schemes from sectors including manufacturing, technology, energy, food, agriculture and real estate increasingly accessing the stock exchange to raise capital.
