KARACHI: Pakistan’s TPL Properties has joined hands with UAE’s Equitativa to fuel investments in the country’s realty sector, officials said on Wednesday.
By forming the Real Estate Investment Trusts (REIT) Management Company (RMC), the two firms also hope to provide an opportunity to institutional and retail investors to participate in this new asset class, a statement released on Wednesday read.
After signing the agreement, Sylvain Vieujot, Group Chairman of Equitativa, said: “The idea to expand into emerging markets with REITs allows unique investment opportunities and delivers competitive total returns based on steady dividend income and long-term capital appreciation.”
The deal, signed in Dubai with Equitativa, will arm TPL Properties with a deep industrial know-how and a long track record of establishing and managing successful REITs, which are listed on the stock exchange.
As a leading regional asset management company, Equitativa is the manager of the largest Shariah-compliant REIT in the world, namely Emirates REIT, which is listed on NASDAQ Dubai.
Ali Jameel, CEO of TPL Properties, said that “this latest strategic alliance further supports the company’s investment strategy and diversifies TPL’s property mix by adding a realty fund model.”
“We believe this will enable Pakistan’s realty and capital market to further develop and encourage more REITs to be formed, attracting more local and foreign investment in this sector,” he added.
The company has been incorporated and is expected to launch its operations this year. “We are expecting to launch the first REIT Fund within 2019,” Ali Asghar, Chief Operating Officer of TPL Properties, told Arab News.
Without sharing the details of shareholding, he said that “Equitativa would be the majority shareholder.”
Currently, Equitativa has about $2 billion worth of assets under management AUM in the UAE. Equitativa was the first company to establish a REIT in the Gulf Cooperation Council (GCC) countries and in the UAE and is currently the largest REIT Manager in the GCC countries.
Incorporated in 2007 and listed on the Pakistan Stock Exchange in 2016, TPL Properties invests, purchases, develops, and builds real estate. TPLP also sells and rents commercial and residential properties. The company develops properties that feature sophisticated sustainable designs, efficient floor plans and first-class amenities for optimum value in functionality, location and cost.
The agreement marks the first Foreign Direct Investment (FDI) in this sector after the regulations have been amended.
Pakistan is currently exploring avenues to attract more FDI into the country. Though it is expecting around $40 billion investment within the next five years, the current trend has not been very encouraging since the FDI has declined by 19.2 percent during the six months of the current fiscal year (FY19).
During the period of July to December of FY19, the country received $1.32 billion worth of FDI as compared to $1.63 billion received during the same period of the previous fiscal year, according to data issued by the State Bank of Pakistan on Wednesday.
UAE’s Equitativa joins hand with TPL Properties in Pakistan
UAE’s Equitativa joins hand with TPL Properties in Pakistan
- Move to provide investors with an opportunity to participate in new asset class
- Expected to launch the first REIT fund this year, top official says
Thousands evacuate homes in Pakistan’s northwest ahead of security operation
- Families in the restive Tirah Valley will receive cash grants, monthly stipends during relocation
- The planned military offensive aims to clear militants from the volatile region near Afghan border
ISLAMABAD: Thousands of families have started evacuating the restive Tirah Valley in Pakistan’s northwestern Khyber district, an official and a tribal leader said on Saturday, as the country’s security forces prepare for a targeted offensive against militants in the area.
Situated in Khyber Pakhtunkhwa province, the Tirah Valley has long served as a sanctuary for militant groups affiliated with the banned Tehreek-e-Taliban Pakistan (TTP), despite major operations in the mid-2010s.
Sporadic violence and militant entrenchment have nevertheless persisted, with security forces conducting intelligence-based operations in recent years to counter resurging elements.
A senior government official, speaking on condition of anonymity, told Arab News that “evacuation from the Maidan area of Tirah Valley started five days ago in anticipation of a possible operation against terrorists.”
He added that the relocation process will continue until Jan. 25, affecting an estimated 15,000 to 20,000 families.
“Each displaced family is being provided with Rs250,000 [$893] in one-time financial assistance, along with a monthly stipend of Rs50,000 [$179] until they return home,” the official said, adding that the government will also provide Rs3 million ($10,714) for damage to houses and Rs1 million ($3,571) for commercial damages.
He said authorities are also supplying food items and arranging free transportation for the relocation of the area’s population.
The decision to move comes amid residents’ complaints of a volatile security environment.
Kamaluddin Khan, a member of a local tribal committee representing elders from the region, described the migration as “the last resort” under the circumstances.
“The people of Tirah have decided to relocate under compulsion and that too only once the government and administration accepted their demands,” he told Arab News over the phone, mainly referring to financial assistance and facilitation.
“The situation in Tirah has deteriorated to such an extent that not only humans, but even animals find it difficult to live here. We held several jirgas [tribal councils of elders], but they proved futile,” he added.
Khan described the situation in the area as “highly volatile.”
“The registration process for migration has begun, and people have started leaving the area,” he added. “According to our estimates, around 30,000 people will be affected by this displacement.”
The move follows a bloody year for Pakistan. Combat-related deaths surged by 73 percent in 2025, reaching 3,387 fatalities, according to data from the Pakistan Institute for Conflict and Security Studies, a local think tank.
The organization said in its annual report that security forces suffered 664 deaths — the highest toll since 2011 — while 2,115 militants were killed during the same period.
Pakistan has grappled with a surge in militant attacks in its western provinces of Khyber Pakhtunkhwa and Balochistan, both bordering Afghanistan.
Islamabad blames the Afghan authorities for providing sanctuaries to militants it says use Afghan soil to carry out attacks against Pakistan. Kabul denies the charges.
According to security analysts in the area, the upcoming operation will be more targeted than the previous ones.
Peshawar-based Mehmood Jan Babar maintained that local sentiment has shifted against the militants.
“People are willing to leave their homes themselves,” he told Arab News. “The families with links to militants are also facing public criticism, as the people of Tirah are exhausted by a prolonged law and order situation.”
“The upcoming operation is not likely to result in large-scale displacement,” he continued. “Based on information available to us, it will be a targeted operation.”
Officials said that the operation against militants is expected to conclude within two months, after which the rehabilitation and return process may begin in April.
