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
Pakistan urges concessional finance for developing nations to boost clean energy security
- Pakistan has emerged as one of world’s fastest growing solar markets, with 12GWs of off-grid and 6GWs of net-metered capacity in 2025
- PM’s aide says Islamabad remains committed to Paris Agreement, looks for continued support in building a resilient and low-carbon future
ISLAMABAD: Pakistan has urged international partners to scale up concessional financing for developing countries, the country’s Press Information Department (PID) said on Sunday, citing an aide to Prime Minister Shehbaz Sharif.
The call was made by Sharif’s coordinator on climate change, Romina Khurshid Alam, while delivering Pakistan’s national statement at the 16th International Renewable Energy Agency (IRENA) Assembly in Abu Dhabi.
Pakistan has emerged as one of the world’s fastest growing solar markets, with 12 gigawatts (GWs) of off-grid and over 6GWs of net-metered solar capacity by the end of 2025. Last fiscal year, renewables accounted for a historic 53 percent of total electricity generation, according to Alam.
The prime minister’s aide stressed that affordable funding for developing nations is critical to accelerating their transition to clean energy and strengthening energy security amid rising climate and economic challenges.
“Alam reaffirmed Pakistan’s target of achieving 60 percent renewables in the power mix by 2030,” the PID said in a statement.
“In her call to action, she urged IRENA and Member States to increase concessional finance for developing nations, treat technologies such as energy storage and green hydrogen as global public goods, and strengthen regional cooperation for shared energy security.”
IRENA is a global intergovernmental agency for energy transformation that serves as the principal platform for international cooperation, supports countries in their energy transition, and provides state of the art data and analyzes on technology, innovation, policy, finance and investment. Its membership comprises 170 countries and the European Union (EU).
The 16th session of the IRENA Assembly is taking place on Jan. 10-12 in Abu Dhabi and focuses on the theme of “Powering Humanity: Renewable Energy for Shared Prosperity.” The session has gathered global leaders and energy decision-makers to discuss strategies and underline necessary actions for the acceleration of renewable energy across countries, regions, and the world, driving economic inclusion, equity, and human well-being.
Alam shared that Pakistan is taking action against energy poverty through initiatives like the Punjab Solar Panel Scheme 2026, which provides free or subsidized systems to low-income households.
She highlighted how distributed solar kits have restored power and livelihoods in flood-affected communities and offer a replicable model for climate-resilient recovery.
“Pakistan remains fully committed to the Paris Agreement and looks to IRENA for continued technical and financial support in building a resilient, inclusive, and low-carbon future,” Alam said.
Adopted in 2015 to combat climate change, the Paris Agreement binds nations to hold “the increase in the global average temperature to well below 2°C above pre-industrial levels” and pursue efforts “to limit the temperature increase to 1.5°C above pre-industrial levels.”
