ISLAMABAD: Pakistan is set for its first real estate investment trust (REIT) in more than six years as Prime Minister Imran Khan seeks to stimulate the economy through a construction boom, Bloomberg reported on Thursday.
Arif Habib Dolmen REIT Management Pvt. plans to raise Rs8 billion ($51 million) via private placements in two REITs for a housing project in Karachi, Muhammad Ejaz, the firm’s chief executive officer, said in an interview to Bloomberg. It plans to purchase the land in about two months, partly from Silkbank Ltd.
“Arif Habib Dolmen had created Pakistan’s only REIT in 2015 and the industry, which had gone silent since then, is reviving now on Khan’s incentives and regulatory changes,” the newspaper reported. “Pakistan is willing to forgive tax evaders if they invest in construction projects, while banks have been asked to increase their outstanding mortgages by at least 5 percent by December.”
One of the new REITs will focus on villas and the other on apartment buildings and commercial developments.
This is a developmental REIT with an expected internal rate of return of more than 30 percent, according to Ejaz: “The older REIT, which holds rental assets including Karachi’s most prominent mall and an office tower, offers a dividend yield of around 12 percent a year.”
Pakistan has been revising rules to make REITs more attractive for investors and developers. Finance Minister Shaukat Tarin in his budget last month lowered the dividend payment tax on REITs to 15 percent from 25 percent.
Silk Islamic Development REIT is scheduled to be launched next week for the commercial and apartment building section. Its five equal shareholders are Yunus Brothers Group that owns Lucky Cement Ltd., Fatima Group, Arif Habib Corp., Liberty Group and Arif Habib Dolmen.
The second Silk World Development REIT includes real estate developer World Group, which will develop the villas.
Pakistan set for first real estate investment trust in over six years
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Pakistan set for first real estate investment trust in over six years
- Arif Habib Dolmen REIT Management Pvt. plans to raise $51 million via private placements in two REITs
- Pakistan has been revising rules to make REITs more attractive for investors and developers
Pakistan says responding to Afghan ‘offensive operations’ after border fire as tensions escalate
- Afghan Taliban spokesperson says “large-scale offensive operations” launched against Pakistani military bases
- Pakistan says Afghan forces opened “unprovoked” fire across multiple sectors along shared border
ISLAMABAD: Afghanistan’s Taliban authorities said on Thursday they had launched “large-scale offensive operations” against Pakistani military bases and installations, prompting Pakistan to say its forces were responding to what it described as unprovoked fire along the shared border.
The escalation follows Islamabad’s weekend airstrikes targeting what it said were Tehreek-e-Taliban Pakistan (TTP) and Daesh militant camps inside Afghanistan in response to a wave of recent bombings and attacks in Pakistan. Islamabad said the strikes killed over 100 militants, while Kabul said dozens of civilians were killed and condemned the attacks as a violation of its sovereignty.
In a post on social media platform X, Afghan government spokesperson Zabihullah Mujahid said Afghanistan had launched “large-scale offensive operations” in response to repeated violations by the Pakistani military.
Pakistan’s Ministry of Information said Afghan forces had initiated hostilities along multiple points of the frontier.
“Afghan Taliban regime unprovoked action along the Pakistan–Afghanistan border given an immediate, and effective response,” the ministry said in a statement.
The statement said Pakistani forces were targeting Taliban positions in the Chitral, Khyber, Mohmand, Kurram and Bajaur sectors, claiming heavy Afghan casualties and the destruction of multiple posts and equipment. It added that Pakistan would take all necessary measures to safeguard its territorial integrity and the security of its citizens.
Separately, security officials said Pakistani forces had carried out counterattacks in several border sectors.
“Pakistan’s security forces are giving a befitting reply to the unprovoked Afghan aggression with full force,” a security official said, declining to be named.
“The Pakistani security forces’ counter-attack destroyed Taliban’s hideouts and the Khawarij fled,” they added, referring to TTP militants.
The claims from both sides could not be independently verified.
Cross-border violence has intensified in recent weeks, with Pakistan blaming a surge in suicide bombings and militant attacks on militants it says are based in Afghanistan. Kabul denies providing safe havens to anti-Pakistan militant groups.
The clashes mark the third major escalation between the neighbors in less than a year. Similar Pakistani strikes last year triggered weeklong clashes before Qatar, Türkiye and other regional actors mediated a ceasefire in October.
The 2,600-kilometer (1,600-mile) frontier, a key trade and transit corridor linking Pakistan to landlocked Afghanistan and onward to Central Asia, has faced repeated closures amid tensions, disrupting commerce and humanitarian movement. Trade between the two nations has remained closed since October 2025.
